GOLD PRICE CLOSED UP $20.95 TO $2427.95

SILVER PRICE UP $0,45 TO $28.77

Gold ACCESS CLOSED $2449.10

Silver ACCESS CLOSED: $28.99

This is the first time in many years that we have not had a raid during options expiry/OTC/London

Bitcoin morning price:$66,056 DOWN 109 DOLLARS.

Bitcoin: afternoon price: $66.191 UP 82

dollars//

Platinum price closing  UP $11.85 TO $976.90

Palladium price; UP $41.30 TO $936.35

END

SHANGHAI GOLD PREMIUM 0 DOLLARS/COMEX GOLD//august to august

SHANGHAI GOLD (USD) FUTURES – QUOTES

Last Updated 31 Jul 2024 06:23:48 AM CT.

Market data is delayed by at least 10 minutes.

MONTH	CHART	LAST	CHANGE	PRIOR SETTLE	OPEN	HIGH	LOW	VOLUME	UPDATED
AUG 2024 SGUQ4		–	–	2408.1	–	–	–	0	23:30:01 CT 30 Jul 2024
SEP 2024 SGUU4		–	–	2408.3	–	–	–	0	23:30:01 CT 30 Jul 2024
OCT 2024 SGUV4		2453.6	+24.8 (+1.02%)	2428.8	2440.9	2462.4	2439.5	1,954	03:52:37 CT 31 Jul 2024
DEC 2024 SGUZ4		–	–	2447.8	–	–	–	0	23:30:01 CT 30 Jul 2024
FEB 2025 SGUG5		–	–	2448.4	–	–	–	0	23:30:01 CT 30 Jul 2024
APR 2025 SGUJ5		–	–	2449.0	–	–	–	0	23:30:01 CT 30 Jul 2024
JUN 2025 SGUM5		–	–	2449.6	–	–	–	0	23:30:01 CT 30 Jul 2024

About this Report

*CANADIAN GOLD: $3382.76 UP 45.61 CDN dollars per oz( * NEW ALL TIME HIGH 3,382.76 CDN DOLLARS PER OZ//JULY 31 2024)

*BRITISH GOLD: 1,904,00 UP 27.41 Pounds per oz// *(NEW ALL TIME HIGH//CLOSING///1933.24 BRITISH POUNDS/OZ) APRIL 19/2024

*EURO GOLD: 2,262.61 UP 34.01 Euros per oz //* (ALL TIME CLOSING HIGH: 2.263.98 EUROS PER OZ//JULY 16//.2024)

DONATE

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

EXCH: COMEX

JPMorgan stopped 5813/9224

GOLD: NUMBER OF NOTICES FILED FOR AUGUST/2024. CONTRACT: 9224 NOTICES FOR 922,400 OZ  or  28.6905 TONNES

total notices so far: 9224 contracts for 922,400  Oz (28.6905 tonnes)

FOR  AUGUST:

SILVER NOTICES: 419 NOTICE(S) FILED FOR 2.095 million

OZ/

total number of notices filed so far this month : 419 for 2.095 million oz

XXXXXXXXXXXXXXXXXX

Click here if you wish to send a donation. I sincerely appreciate it as this site takes a lot of preparation

END

GLD/

BOTH GLD AND SLV ARE FRAUDULENT VEHICLES//THEY ARE NOW RAIDING GLD AND SLV FOR PHYSICAL

THE CROOKS ARE STEALING GOLD AND SILVER FROM THE GLD/SLV AND REPLACING THE PHYSICAL WITH PAPER DOLLARS.

WITH GOLD UP $26.55 INVESTORS SWITCHING TO SPROTT PHYSICAL  (PHYS) INSTEAD OF THE FRAUDULENT GLD/ NO CHANGES IN GOLD INVENTORY AT THE GLD:

/ /INVENTORY RESTS AT 843.17 TONNES

INVENTORY RESTS AT 843,17 TONNES

SLV/

WITH NO SILVER AROUND AND SILVER UP $0.45 AT THE SLV/WOW!! AGAIN???//HUGE HUGE MOVEMENTS

NO CHANGES IN SILVER INVENTORY AT THE SLV:

// INVENTORY REMAINS AT 460.596 MILLION OZ/

INVESTORS ARE SWITCHING SLV TO SPROTT’S PSLV.

CLOSING INVENTORY: 460.596 MILLION OZ

Let us have a look at the data for today

SILVER//OUTLINE

SILVER COMEX OI FELL BY A HUGE SIZED 784 CONTRACTS TO 151,437 AND STALLING ON ITS MARCH TO THE RECORD HIGH OI OF 244,710, SET FEB 25/2020, AND THIS FAIR SIZED LOSS IN COMEX OI WAS ACCOMPLISHED WITH HUGE LIQUIDATION OF OI FROM OUR SPREADERS/TAS ACCOMPANYING OUR HUGE GAIN OF $0.61 IN SILVER PRICING AT THE COMEX ON TUESDAY’S TRADING ON SILVER. OUR HUGE LIQUIDATION ACCOMPANIED OUR SMALL NET LOSS OF 418 CONTRACTS ON OUR TWO EXCHANGES WE HAD A MASSIVE LIQUIDATION OF T.A.S. CONTRACTS WHICH ACCOUNTS FOR THE OI LOSS SIMILAR TO THE COMEX GOLD TRADING. WE, AGAIN HAD MAJOR SHORT COVERING BY OUR SPECS WITH THE HUGE GAIN IN PRICE AS WELL AS THE MASSIVE T.A.S. LIQUIDATION MENTIONED ABOVE. HOWEVER FOR THE FIRST TIME IN OVER 5 YEARS WE HAD A 0 EXCHANGE FOR PHYSICAL ISSUANCE WITH A HUGE 676 CONTRACT T.A.S ISSUANCE,

PLEASE NOTE THAT THE CROOKS NEED A HIGHER SILVER/GOLD T.A.S. TO CARRY ON THEIR CROOKED MANIPULATION ON A DAILY BASIS BUT DEMAND IS JUST TOO HIGH FOR THEM. THE HIGHER ISSUANCE OF T.A.S. IS NOW USED TO TEMPER OUR SILVER/GOLD PRICE RISE OR RAID AS WHAT HAPPENED SEVERAL TIMES LAST MONTH AND AGAIN YESTERDAY.

CRAIG HEMKE HAS POINTED OUT THAT THE CROOKS USE THE MID MONTH FOR MANIPULATION AS THEY SELL THEIR BUY SIDE OF THE CALENDAR SPREAD FIRST AND THEN KEEP THE SELL SIDE TO LIQUIDATE AT A LATER DATE.  THUS WE HAVE TWO VEHICLES THE CROOKS USE FOR MANIPULATION AND BOTH ARE SPREADERS:  1) AT MONTH’S END/SPREADERS COMEX AND 2/ TAS SPREADERS, MID MONTH. TOTAL TAS ISSUED ON TUESDAY NIGHT: 676 CONTRACTS. DESPITE MANY COMPLAINTS THAT THE CROOKS HAVE VIOLATED POSITION LIMITS DUE TO THE FACT THAT THE TAS ISSUED HAVE A VALUE  OF ZERO (AS TO POSITION LIMITS FOR OUR CROOKED BANKERS). THE PROBLEM OF COURSE IS THAT THE CROOKS DO NOT LIQUIDATE THE TAS TOGETHER BUT SELL THE BUY SIDE FIRST AND THEN LIQUIDATE THE SELL SIDE TWO MONTHS HENCE. IT IS OBVIOUS MANIPULATION TO THE HIGHEST DEGREE BUT IT NATURALLY FELL ON DEAF EARS WITH OUR REGULATORS (OCC) WHEN THEY RECEIVED OUR COMPLAINTS.IT NOW SEEMS THAT THE OCC HAS ORDERED THE BANKS TO REDUCE ITS NEW LEVEL OF 1/2 TRILLION DOLLARS IN GOLD/SILVER DERIVATIVES AND THUS THE REASON FOR CONSTANT RAIDS. IT ALSO LOOKS LIKE THE FED (GOV’T) IS BEHIND EVERY DAY TRADING.

WE HAVE IN THE PAST YEAR SET ANOTHER RECORD LOW AT 114,102 CONTRACTS ///JULY 3.2023//  OUR BANKERS WITH THE HELP OF SPECULATORS AND HIGH FREQUENCY TRADERS WERE UNSUCCESSFUL IN KNOCKING THE PRICE OF SILVER DOWN (IT ROSE BY $0.61) AND WERE UNSUCCESSFUL IN KNOCKING ANY SILVER LONGS FROM THEIR PERCH AS EVEN THOUGH WE HAD A HUGE SIZED LOSS OF 784 CONTRACTS ON OUR TWO EXCHANGES, ALL OF THE LOSS IN OI WAS DUE TO SPREADER LIQUIDATION ON FIRST DAY NOTICE (SPREADERS PLUS T.A.S).

STRANGELY WE HAD:

ZERO CONTRACT  ISSUANCE OF EXCHANGE FOR PHYSICALS) iiii) AN  INITIAL SILVER STANDING FOR COMEX SILVER MEASURING AT 3.005 MILLION OZ (FIRST DAY NOTICE)

//NEW STANDING FOR SILVER//AUGUST IS THUS 3.005 MILLION OZ

WE HAD:

/ HUGE SIZED COMEX OI LOSS //ZERO SIZED EFP ISSUANCE/ VI)  HUGE SIZED NUMBER OF  T.A.S. CONTRACT ISSUANCE 676 CONTRACTS)/

 I AM NOW RECORDING THE DIFFERENTIAL IN OI FROM PRELIMINARY TO FINAL removed 366 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS JUNE ACCUMULATION FOR EFP’S SILVER/JPMORGAN’S HOUSE OF BRIBES/STARTING FROM FIRST DAY/MONTH OF JULY

TOTAL CONTRACTS for 22 DAYS, total 21,774 contracts:   OR 108.870 MILLION OZ  (989 CONTRACTS PER DAY)

TOTAL EFP’S FOR THE MONTH SO FAR:  106.945 MILLION OZ

LAST 23 MONTHS TOTAL EFP CONTRACTS ISSUED  IN MILLIONS OF OZ:

MAY 137.83 MILLION

JUNE 149.91 MILLION OZ

JULY 129.445 MILLION OZ

AUGUST: MILLION OZ 140.120

SEPT. 28.230 MILLION OZ//

OCT:  94.595 MILLION OZ

NOV: 131.925 MILLION OZ

DEC: 100.615 MILLION OZ

YEAR 2022:

 JAN 2022-DEC 2022

JAN 2022//  90.460 MILLION OZ

FEB 2022:  72.39 MILLION OZ//

MARCH 2022: 207.140  MILLION OZ//A NEW RECORD FOR EFP ISSUANCE

APRIL: 114.52 MILLION OZ FINAL//LOW ISSUANCE

MAY: 105.635 MILLION OZ//

JUNE: 94.470 MILLION OZ

JULY : 87.110 MILLION OZ

AUGUST: 65.025 MILLION OZ

SEPT. 74.025 MILLION OZ///FINAL

OCT.  29.017 MILLION OZ FINAL

NOV: 134.290 MILLION OZ//FINAL

DEC, 61.395 MILLION OZ FINAL

TOTALS YR 2022: 1135.767 MILLION OZ (1.1356 BILLION OZ)

JAN 2023///   53.070 MILLION OZ //FINAL

FEB: 2023:       100.105 MILLION OZ/FINAL//MUCH STRONGER ISSUANCE VS THE LATTER TWO MONTHS.

MARCH 2023:  112.58 MILLION OZ//FINAL//STRONG ISSUANCE

APRIL  111.035 MILLION OZ(SLIGHTLY GREATER THAN THAN LAST MONTH)

MAY 66.120 MILLION OZ/INITIAL (MUCH SMALLER THIS MONTH)  

JUNE: 110.395 MILLION OZ//MUCH LARGER THAN LAST MONTH

JULY 85.745 MILLION OZ (SMALLER THAN LAST MONTH)

AUGUST: 171.43 MILLION OZ (THIS MONTH IS GOING TO BE HUGE //2ND HIGHEST ON RECORD

SEPT: 72.705 MILLION OZ (SMALLER THIS MONTH)

OCT: 97.455 MILLION OZ

NOV.  50.050 MILLION OZ 

DEC. 66.140 MILLION OZ//

TOTAL 2023: 1,104.10 MILLION OZ/

JAN ’24 : 78.655 MILLION OZ//

FEB /2024 : 66.135 MILLION OZ./FINAL

MARCH: 143.750 MILLION OZ// 4TH HIGHEST ON RECORD.

APRIL: 161.770 MILLION OZ (THIS MONTH WILL BE A WHOPPER OF ISSUANCE OF EFPS//3RDHIGHEST EVER RECORDED FOR A MONTH)

MAY: 135.995 MILLION OZ  //WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL ISSUANCE

JUNE 110.575 MILLION OZ ( WILL BE ANOTHER STRONG MONTH ISSUANCE)

JULY: 108.870 MILLION OZ (WILL BE A STRONG ISSUANCE MONTH/ A TOUCH OVER 100 MILLION OZ/)

RESULT: WE HAD A FAIR SIZED DECREASE IN COMEX OI SILVER COMEX CONTRACTS OF 784 CONTRACTS WITH OUR HUGE GAIN IN PRICE OF SILVER PRICING AT THE COMEX//TUESDAY.,.  THE CME NOTIFIED US THAT WE HAD A ZERO EFP ISSUANCE  CONTRACTS: 0 ISSUED FOR SEPT AND 0 CONTRACTS ISSUED FOR ALL OTHER MONTHS) WHICH  EXITED OUT OF THE SILVER COMEX TO LONDON  AS FORWARDS.  WE HAVE A GOOD INITIAL SILVER OZ STANDING FOR AUGUST OF  3.005 MILLION  OZ ON FIRST DAY NOTICE

//NEW TOTAL STANDING FOR JULY 3.005 MILLION OZ 

WE HAVE A HUGE SIZED LOSS OF 784  OI CONTRACTS ON THE TWO EXCHANGES DESPITE THE HUGE GAIN IN PRICE. SOMETHING JUST DOES NOT ADD UP.THE TOTAL OF TAS INITIATED CONTRACTS TODAY: A HUGE SIZED 676 CONTRACTS,//HUGE FRONT END OF THE TAS CONTRACTS WERE LIQUIDATED DURING THE TUESDAY COMEX TRADING WHICH ACCOUNTS FOR THE MAJOR PORTION OF THE COMEX OI LOSS/// MAJOR SHORT COVERING FROM OUR SPEC SHORTS AND ZERO LIQUIDATION OF LONGS. ALSO SOME OF OUR LONGS EXERCISED THEIR RIGHT AND TENDERED FOR PHYSICAL SILVER.

THE NEW TAS ISSUANCE TUESDAY NIGHT   (676) WILL BE PUT INTO “THE BANK” TO BE COLLUSIVELY USED AT A LATER DATE//AND MOST LIKELY TODAY., .

WE HAD 419 NOTICE(S) FILED TODAY FOR 2.095 million OZ

THE SILVER COMEX IS NOW BEING ATTACKED FOR METAL BY LONDONERS ET AL.

GOLD//OUTLINE

IN GOLD, THE COMEX OPEN INTEREST ROSE BY A FAIR SIZED 1694 OI CONTRACTS  TO 510,914 AND FCLOSER TO THE RECORD (SET JAN 24/2020) AT 799,733  AND  PREVIOUS TO THAT: (SET JAN 6/2020) AT 797,110, BUT WE ARE NOW MUCH FURTHER FROM OUR ALL TIME LOW OF 390,000 CONTRACTS.

THE DIFFERENTIAL FROM PRELIMINARY OI TO FINAL OI IN GOLD TODAY: REMOVED 1899 CONTRACTS

WE HAD A FAIR SIZED INCREASE  IN COMEX OI (1694 CONTRACTS) OCCURRED WITH OUR HUGE GAIN OF $26.55  IN PRICE/TUESDAY. THE FRBNY SUPPLIED THE NECESSARY SHORT PAPER. WE ALSO HAD A HUGE INITIAL STANDING IN GOLD TONNAGE FOR AUGUST AT 65.55 TONNES ON FIRST DAY NOTICE

NEW STANDING  65.55 TONNES

/ ALL OF THIS HAPPENED WITH OUR $26.55 GAIN IN PRICE  WITH RESPECT TO TUESDAY’S TRADING. WE HAD A STRONG SIZED GAIN OF 7108 OI CONTRACTS (22.90 PAPER TONNES) ON OUR TWO EXCHANGES., WITH MANY LONGS, REMAINING AT THE END OF THE DAY, TENDERING FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE, MUCH TO THE ANGER AND HORROR EXHIBITED BY OUR MAJOR BANKER, THE FEDERAL RESERVE BANK OF NEW YORK.

E.F.P. ISSUANCE

THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED A FAIR SIZED 1186 CONTRACTS:

The NEW COMEX OI FOR THE GOLD COMPLEX RESTS AT 510,914

IN ESSENCE WE HAVE A STRONG SIZED INCREASE IN TOTAL CONTRACTS ON THE TWO EXCHANGES OF 7108 CONTRACTS  WITH 1694 CONTRACTS INCREASED AT THE COMEX// AND A HUGE SIZED 5414 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON. THUS TOTAL OI GAIN ON THE TWO EXCHANGES OF 7108 CONTRACTS.. WE HAD THE FOLLOWING TAS CONTRACTS INITIATED (ISSUED): A FAIR 1186 CONTRACTS,

CALCULATIONS ON GAIN/LOSS ON OUR TWO EXCHANGES

WE HAD A STRONG SIZED ISSUANCE IN EXCHANGE FOR PHYSICALS (5414 CONTRACTS) ACCOMPANYING THE FAIR SIZED GAIN IN COMEX OI OF 1694 CONTRACTS/TOTAL GAIN FOR OUR THE TWO EXCHANGES: 7108 CONTRACTS. WE HAVE ( 1) NOW RETURNED TO OUR FORMER FORMAT OF BANKERS GOING LONG AND SPECULATORS GOING SHORT  ,2.) STRONG INITIAL STANDING AT THE GOLD COMEX FOR AUGUST AT 65.55 TONNES 

//NEW STANDING /AUGUST 65.55 TONNES. 

 / 3) HUGE T.A.S. LIQUIDATION//SPREADER CONTRACTS WITH ZERO NET LONG SPECS BEING CLIPPED,

  4) FAIR SIZED COMEX OPEN INTEREST GAIN 5)  STRONG ISSUANCE OF EXCHANGE FOR PHYSICAL PAPER///FAIR T.A.S.  ISSUANCE: 1186 CONTRACTS

HISTORICAL ACCUMULATION OF EXCHANGE FOR PHYSICALS IN 2023-2024 INCLUDING TODAY

JULY

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF JULY. :

TOTAL EFP CONTRACTS ISSUED: 113,056 CONTRACTS OF 11,305,600 OZ OR 351.65 TONNES IN 22 TRADING DAY(S) AND THUS AVERAGING: 5138 EFP CONTRACTS PER TRADING DAY

TO GIVE YOU AN IDEA AS TO THE  SIZE OF THESE EFP TRANSFERS :  THIS MONTH IN 22 TRADING DAY(S) IN  TONNES  351.65 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2023, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 3555 TONNES

THUS EFP TRANSFERS REPRESENTS  351.65 DIVIDED BY 3550 x 100% TONNES = 9.88% OF GLOBAL ANNUAL PRODUCTION

ACCUMULATION OF GOLD EFP’S YEAR 2021 TO 2023

JANUARY/2021: 265.26 TONNES (RAPIDLY INCREASING AGAIN)

 FEB  :  171.24 TONNES  ( DEFINITELY SLOWING DOWN AGAIN)..

MARCH:.   276.50 TONNES (STRONG AGAIN/

APRIL:      189..44 TONNES  ( DRAMATICALLY SLOWING DOWN AGAIN//GOLD IN BACKWARDATION)

MAY:        250.15 TONNES  (NOW DRAMATICALLY INCREASING AGAIN)

JUNE:      247.54 TONNES (FINAL)

JULY:        188.73 TONNES FINAL

AUGUST:   217.89 TONNES FINAL ISSUANCE.

SEPT          142.12 TONNES FINAL ISSUANCE ( LOW ISSUANCE)_

OCT:           141.13 TONNES FINAL ISSUANCE (LOW ISSUANCE)

NOV:           312.46 TONNES FINAL ISSUANCE//NEW RECORD!! (INCREASING DRAMATICALLY)//SIGN OF REAL STRESS//SURPASSING THE MARCH 2021 RECORD OF 276.50 TONNES OF EFP

DEC.           175.62 TONNES//FINAL ISSUANCE//

TOTALS: 2,578.08 TONNES/2021

JAN:2022   247.25 TONNES //FINAL

FEB:           196.04 TONNES//FINAL

MARCH/2022:  409.30 TONNES //FINAL( THIS IS NOW A RECORD EFP ISSUANCE FOR MARCH AND FOR ANY MONTH.

APRIL:  169.55 TONNES (FINAL VERY  LOW ISSUANCE MONTH)

MAY:  247.44 TONNES FINAL//

JUNE: 238.13 TONNES  FINAL

JULY: 378.43 TONNES FINAL/SECOND HIGHEST ON RECORD

AUGUST: 180.81 TONNES FINAL

SEPT. 193.16 TONNES FINAL

OCT:  177.57  TONNES FINAL ( MUCH SMALLER THAN LAST MONTH)

NOV.  223.98 TONNES//FINAL ( MUCH LARGER THAN PREVIOUS MONTHS//comex running out of physical)

DEC:  185.59 tonnes // FINAL

TOTAL: 2,847,25 TONNES/2022

JAN 2023:    228.49 TONNES FINAL//HUGE AMOUNT OF EFP’S ISSUED THIS MONTH!!

FEB: 151.61 TONNES/FINAL

MARCH: 280.09 TONNES/INITIAL (ANOTHER STRONG MONTH FOR EFP ISSUANCE)

APRIL: 197.42 TONNES

MAY: 236.67 TONNES (A VERY STRONG ISSUANCE FOR THIS MONTH)

JUNE: 172.667 TONNES (WEAKER ISSUANCE THIS MONTH)

JULY:  151.69 TONNES (WEAKER THAN LAST MONTH)

AUGUST:  195.28 TONNES (A STRONGER MONTH)//FINAL

SEPT: 254.709 TONNES (WILL BE LARGER THAN LAST MONTH AND A STRONG MONTH)

OCT. 248.09 TONNES. LIKE SILVER, THIS MONTH IS GOING TO BE A STRONG E.F.P. ISSUANCE.

NOV.   239.16 TONNES//WILL BE STRONG THIS MONTH,

DEC. 213.704 TONNES. A STRONG MONTH//

TOTAL FOR YEAR 2023: 2,569.57 TONNES VS  2578 TONNES LAST YEAR

JAN ’24:     291.76 TONNES (WILL BE MUCH GREATER THAN LAST MONTH.//3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL)

FEB’24: 201.947 TONNES

MARCH 2024: 352.21 TONNES//2ND HIGHEST EVER RECORDED EFP ISSUANCE.

APRIL: 267.05TONNES (WILL BE AN EXTREMELY STRONG MONTH BUT LESS THAN MARCH 2024)

MAY; 316.606 TONNES (WILL BE ANOTHER STRONG MONTH// 3RD HIGHEST RECORDED EFP ISSUANCE )// NOTICE THE HUGE INCREASES IN EX FOR PHYSICAL THESE PAST FEW MONTHS. THESE CONTRACTS ARE CIRCLED BACK FROM LONDON WHEREBY METAL IS REMOVED FROM THE COMEX.

JUNE 175.11 tonnes HEADING FOR A WEAKER MONTH AND MUCH LESS THAN THE THREE PREVIOUS MONTHS

JULY: 351. 65TONNES (3RD HIGHEST EVER RECORDED EXCHANGE FOR PHYSICAL AND THE HIGHEST EVER RECORDED POST BASEL III) 

SPREADING OPERATIONS

(/NOW SWITCHING TO GOLD) FOR NEWCOMERS, HERE ARE THE DETAILS

SPREADING LIQUIDATION HAS NOW COMMENCED   AS WE HEAD TOWARDS THE  NEW  ACTIVE FRONT MONTH OF AUGUST. WE ARE NOW INTO THE SPREADING OPERATION OF  GOLD

HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS IN THE SPREADING ENDEAVOUR ;MODUS OPERANDI OF THE CORRUPT BANKERS AS TO HOW THEY HANDLE THEIR SPREAD OPEN INTERESTS:HERE IS HOW THE CROOKS USED SPREADING AS WE ARE NOW INTO THE  NON ACTIVE DELIVERY MONTH OF NOV HEADING TOWARDS THE  ACTIVE DELIVERY MONTH OF FEB., FOR  GOLD: AND MARCH FOR SILVER

YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST  STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING  ACTIVE DELIVERY MONTH (AUG), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY.  THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END  OF THE DAY. THEY DO THIS TO AVOID POSITION LIMIT DETECTION. THE LIQUIDATION OF THE SPREADING FORMATION CONTINUES FOR EXACTLY ONE WEEK AND ENDS ON FIRST DAY NOTICE.”

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.

The crooks also use the spread in the TAS  account  (trade at settlement).  They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle  of the  front delivery month cycle. They unload the sell side of the equation, two months down the road.  The crooks violate position limits as the OCC refuse to hear our complaints.

First, here is an outline of what will be discussed tonight:

1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUGE SIZED  784 CONTRACTS OI  TO 151,437 AND FURTHER FROM THE COMEX HIGH RECORD //244,710( SET FEB 25/2020).  THE LAST RECORDS WERE SET  IN AUG.2018 AT 244,196 WITH A SILVER PRICE OF $14.78/(AUGUST 22/2018)..THE PREVIOUS RECORD TO THAT WAS SET ON APRIL 9/2018 AT 243,411 OPEN INTEREST CONTRACTS WITH THE SILVER PRICE AT THAT DAY: $16.53). AND PREVIOUS TO THAT, THE RECORD  WAS ESTABLISHED AT: 234,787 CONTRACTS, SET ON APRIL 21.2017 OVER  6 YEARS AGO.  HOWEVER WE HAVE NOW SET A NEW RECORD LOW OF 114,102 CONTRACTS JULY 3.2023

EFP ISSUANCE 0 CONTRACTS

OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS  AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:

SEPT 0  and ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE COMEX OI LOSS OF 784 CONTRACTS AND ADD TO THE 0 E.FP. ISSUED

WE OBTAIN A GOOD SIZED LOSS OF OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES OF 784 CONTRACTS

THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES  TOTALS 3.92 MILLION OZ OCCURRED DESPITE OUR HUGE  $.61 GAIN IN PRICE …THE MAJORITY OF THE OI LOSS WAS DUE TO SPREADER/T.A.S. LIQUIDATION

END

OUTLINE FOR TODAY’S COMMENTARY

1a/COMEX GOLD AND SILVER REPORT

(report Harvey)

b, ) Gold/silver trading overnight Europe,//GOLD COMMENTARIES

(Peter Schiff)

c) Commentaries from: Egon von Greyerz///Matthew Piepenburg via GoldSwitzerland.com, Pam and Russ Martens

ii a) Chris Powell of GATA provides to us very important physical commentaries

b. Other gold/silver commentaries

c. Commodity commentaries//

d)/CRYPTOCURRENCIES/BITCOIN ETC

2.ASIAN AFFAIRS//

WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED UP 59.45 PTS OR 2.06% //Hang Seng CLOSED UP 341.69 PTS OR 2.01% // Nikkei CLOSED UP 575.82 OR 1.49%//Australia’s all ordinaries CLOSED UP 1.79%///Chinese yuan (ONSHORE) closed UP TO 7,2213 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2255/ Oil UP TO 77.02 dollars per barrel for WTI and BRENT DOWN AT 80.32 Stocks in Europe OPENED MOSTLY GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

A)NORTH KOREA/SOUTH KOREA

outline

b) REPORT ON JAPAN/
OUTLINE

3  CHINA
OUTLINE

4/EUROPEAN AFFAIRS
OUTLINE

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS
OUTLINE

6.Global Issues//COVID ISSUES/VACCINE ISSUES
OUTLINE

7. OIL ISSUES
OUTLINE

8 EMERGING MARKET ISSUES
9. USA

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS

GOLD

 LET US BEGIN:

THE TOTAL COMEX GOLD OPEN INTEREST ROSE BY A FAIR SIZED 1694 CONTRACTS  TO 510,914 WITH OUR SMALL GAIN IN PRICE OF $26.55 WITH RESPECT TO TUESDAY’S TRADING. WE LOST A HUGE NUMBER OF SPREADER/T.A.S. CONTRACTS WHICH IS NORMAL ON A FIRST DAY NOTICE.

OUR LONDONERS BOUGHT MASSIVE QUANTITIES OF LONGS AND THEN TENDERED FOR PHYSICAL VIA THE EXCHANGE FOR PHYSICAL ROUTE. BECAUSE GOLD IS BASEL III COMPLIANT, GOLD MUST BE DELIVERED IN A VERY TIMELY T PLUS ONE DAY. CENTRAL BANKS AROUND THE WORLD, BEING REPRESENTED BY OUR LONDONERS, ARE THE REAL PURCHASERS OF THIS GOLD.

WE HAD A STRONG T.A.S. LIQUIDATION ON TUESDAY’S HUGE GAIN IN PRICE WITH ZERO LONGS BEING CLIPPED BUT WE DID HAVE MAJOR SHORT COVERING. THE PROBLEM FOR THOSE PROVIDING THE SHORT PAPER IS THE SHOCK TO THEM ON RECEIVING NOTICE THAT THE LONGS WANT THE PHYSICAL GOLD AS THEY TENDER FOR THAT SHINY YELLOW METAL.

EXCHANGE FOR PHYSICAL ISSUANCE

WE ARE NOW ENTERING INTO THE ACTIVE DELIVERY MONTH OF AUGUST.…  THE CME REPORTS THAT THE BANKERS ISSUED A  HUGE SIZED TRANSFER THROUGH THE EFP ROUTE AS THESE LONGS RECEIVED A DELIVERABLE LONDON FORWARD TOGETHER WITH A FIAT BONUS.,

THAT IS A STRONG SIZED 5414 EFP CONTRACTS WERE ISSUED: :  AUGUST 5414 & ZERO FOR ALL OTHER MONTHS:

TOTAL EFP ISSUANCE: 5414 CONTRACTS.

ON A NET BASIS IN OPEN INTEREST WE GAINED THE FOLLOWING TODAY ON OUR TWO EXCHANGES: A STRONG SIZED TOTAL OF 7108 CONTRACTS IN THAT 5414 LONGS WERE TRANSFERRED AS EXCHANGE FOR PHYSICALS TO LONDON AND WE HAD A FAIR SIZED GAIN OF 1694 COMEX  CONTRACTS..AND THIS STRONG GAIN ON OUR TWO EXCHANGES HAPPENED WITH OUR HUGE RISE IN PRICE OF $26.55/TUESDAY COMEX. THE EXCHANGE FOR PHYSICALS WILL BE USED BY CENTRAL BANKS, TUESDAY NIGHT TO EXERCISE FOR PHYSICAL GOLD.

AS PER OUR NEWBIE TRADE AT SETTLEMENT (TAS) MANIPULATION OPERATION (WHICH CRAIG HEMKE HAS POINTED OUT HAPPENS DURING MID MONTH IN THE DELIVERY CYCLE), THE CME REPORTS THAT THE TOTAL T.A.S. ISSUANCE FOR TUESDAY NIGHT A FAIR  SIZED 1186 CONTRACTS. ALMOST ALL OF THE TRADING AND SUPPLY OF CONTRACTS  WAS ORCHESTRATED BY GOVERNMENT (FEDERAL RESERVE BANK OF NEW YORK)

THROUGHOUT THE PAST SEVERAL WEEKS, THE BANKERS CONTINUE TO SELL OFF THE LONG SIDE OF THE SPREAD WHICH  OF COURSE CONTINUES TO MANIPULATE THE PRICE OF GOLD SOUTHBOUND. (THEY KEEP THE SHORT SIDE OF THE CALENDAR/T.A.S. SPREAD WHICH WILL BE LIQUIDATED IN DAYS HENCE//. IT SEEMS THAT OUR CROOKS ARE HAVING A HARD TIME TRYING TO CONTROL THE PRICE OF GOLD AND THUS THE NEED FOR STRONG T.A.S. ISSUANCE. THE USE OF T.A.S. IS OF EXTREME IMPORTANCE TO OUR CROOKS IN LAST WEEK’S TRADING//RAIDS AS WELL AS THIS WEEK.

// WE HAVE A STRONG AMOUNT OF GOLD TONNAGE STANDING:   AUGUST  (65.55 TONNES)

HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 42 MONTHS OF 2021-2024:

DEC 2021: 112.217 TONNES

NOV.  8.074 TONNES

OCT.    57.707 TONNES

SEPT: 11.9160 TONNES

AUGUST: 80.489 TONNES

JULY 7.2814 TONNES

JUNE:  72.289 TONNES

MAY 5.77 TONNES

APRIL  95.331 TONNES

MARCH 30.205 TONNES

FEB ’21. 113.424 TONNES

JAN ’21: 6.500 TONNES.

TOTAL  YEAR  2021 (JAN- DEC): 601.213 TONNES

YEAR 2022:

JANUARY 2022  17.79 TONNES

FEB 2022: 59.023 TONNES

MARCH: 36.678 TONNES

APRIL: 85.340 TONNES FINAL.

MAY: 20.11 TONNES FINAL

JUNE: 74.933 TONNES FINAL

JULY 29.987 TONNES FINAL

AUGUST:104.979 TONNES//FINAL

SEPT.  38.1158 TONNES

OCT:  77.390 TONNES/ FINAL

NOV 27.110 TONNES/FINAL

Dec. 64.000 tonnes

(TOTAL  YEAR 656.076 TONNES)

2023:

JAN/2023:    20.559 tonnes

FEB 2023: 47.744 tonnes

MAR:  19.0637 TONNES

APRIL: 75.676  tonnes

MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk =  20.338

JUNE: 64.354 TONNES

JULY: 10.2861 TONNES

AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)

SEPT: 15.281 TONNES FINAL

OCT.    35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes

NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK   = 34.9627 TONNES

DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK =  51.707 TONNES

TOTAL 2023 YEAR : 436.546 TONNES

2024

JAN ’24.      22.706 TONNES

FEB. ’24:  66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)

MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES

APRIL: 2024: 53.673TONNES FINAL

MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/PRIOR= 11.9325

JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022

JULY: 11.692 TONNES

AUGUST 65.55 TONNES

THE SPECS/HFT WERE  UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY  $26.55 //// AND WERE UNSUCCESSFUL IN KNOCKING OFF ANY SPECULATOR LONGS. CENTRAL BANK LONGS THAT REMAINED, EXERCISED FOR PHYSICAL. WE HAD A HUGE T.A.S. LIQUIDATION TUESDAY NIGHT

WE HAVE GAINED A TOTAL OI OF 27.95 PAPER TONNES FROM OUR TWO EXCHANGES, ACCOMPANYING OUR INITIAL  GOLD TONNAGE STANDING FOR AUGUST (65.55 TONNES) ON FIRST DAY NOTICE

NEW STANDING FOR AUGUST: 65.55 TONNES 

ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE  TO THE TUNE OF $26.55

WE HAVE REMOVED 1899 CONTRACTS  FROM THE  COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL

NET GAIN ON THE TWO EXCHANGES 8987 CONTRACTS OR 898,700 OZ (27.95

TONNES)

confirmed volume TUESDAY 206,830 contracts//fair

//speculators have left the gold arena

JULY 31       AUGUST  GOLD CONTRACT

/ /// THE AUG 2024 GOLD CONTRACT

Gold	Ounces
Withdrawals from Dealers Inventory in oz	nil
Withdrawals from Customer Inventory in oz	1,075.500 OZ Brinks 500 kilobars           .
Deposit to the Dealer Inventory in oz	80,851.399 oz asahi
Deposits to the Customer Inventory, in oz	NIL oz
No of oz served (contracts) today	9224 notice(s) 922400 OZ 28.6905 TONNES
No of oz to be served (notices)	11,852 contracts    1,185,200 OZ 36.86 TONNES
Total monthly oz gold served (contracts) so far this month	9224 notices 922,400 oz 28.6905 TONNES
Total accumulative withdrawals of gold from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of gold from the Customer inventory this month	x

1 dealer deposits:

i) Into ASAHI 80,851.399 oz

total dealer deposits:  80,851.399 oz

we have 0 customer deposits

total deposits NIL oz

withdrawals: 1

i)out of Brinks: 16,075.000 oz

500 kilobars

TOTAL WITHDRAWALS 16,075.000 oz

Adjustment dealer to customer; JPMorgan 64,334.151 oz

CALCULATIONS FOR THE AMOUNT OF GOLD STANDING FOR JULY

For the front month of AUGUST we have an oi of 21,076 contracts having LOST 12,730 contracts.

Thus as predicted, we have a huge amount of gold willing to stand at the comex.

By definition, the initial amount of gold standing for the front month of August is as follows:

21,076 CONTRACTS X 100 OZ PER CONTRACT = 2,107,600 OZ OOR 65.55 tonnes of gold

SEPT. GAINED 1258 CONTRACTS TO STAND AT 5123 CONTRACTS.

OCTOBER GAINED 1110 CONTRACTS UP TO 57,324 CONTRACTS

We had 9224 contracts filed for today representing 922400  oz  

This is a major assault on the comex for gold and this time it is physical that will be requested.

Today, 0 notice(s) were issued from J.P.Morgan dealer and 1630 notices were issued from their client or customer account. The total of all issuance by all participants equate to 9224 contract(s) of which 0  notices were stopped (received) by  j.P. Morgan dealer and 5813 notice(s) was (were) stopped  (received) by J.P.Morgan//customer account   

To calculate the INITIAL total number of gold ounces standing for AUGUST /2024. contract month, we take the total number of notices filed so far for the month (9224) x 100 oz ) to which we add the difference between the open interest for the front month of  August 21,076( CONTRACTS)  minus the number of notices served upon today  (9224 x 100 oz per contract( equals  2,107,600 OZ  OR 65.55 TONNES.

thus the INITIAL standings for gold for the AUGUST contract month:  No of notices filed so far (9224 x 100 oz +we add the difference for front month of AUGUST  (21,076 X// , OI} minus the number of notices served upon today (9224) x 100 oz which equals  2,107,600 oz (65.55 TONNES) 

TOTAL COMEX GOLD STANDING FOR AUGUST: 65.55 TONNES WHICH IS HUGE FOR THIS  VERY ACTIVE DELIVERY MONTH IN THE CALENDAR. 

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

COMEX GOLD INVENTORIES/CLASSIFICATION

NEW PLEDGED GOLD:

241,794.285 oz NOW PLEDGED /HSBC  5.94 TONNES

204,937.290 OZ PLEDGED  MANFRA 3.08 TONNES

83,657.582 PLEDGED JPMorgan no 1  1.690 tonnes

265,999.054, oz  JPM No 2 

1,152,376.639 oz pledged  Brinks/

Manfra:  33,758.550 oz

Delaware: 193.721 oz

International Delaware::  11,188.542 oz

total pledged gold: 1,671,112.26 oz 51.98 tonnes

TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD:  17,900,385.603 OZ  

TOTAL REGISTERED GOLD 8,164,215.983 ( 253,94 tonnes). 

TOTAL OF ALL ELIGIBLE GOLD: 9,736,169.620 OZ  

REGISTERED GOLD THAT CAN BE SERVED UPON: 6,493103 oz (REG GOLD- PLEDGED GOLD)= 201.96 tonnes //

END

SILVER/COMEX

JULY 31/2024

INITIAL

//2024// THE AUG 2024  SILVER CONTRACT//INITIAL

Silver	Ounces
Withdrawals from Dealers Inventory	NIL oz
Withdrawals from Customer Inventory	673m112.090 OZ oz Asahi HSBC .
Deposits to the Dealer Inventory
Deposits to the Customer Inventory	1,202k811.590 oz JPM ASAHI
No of oz served today (contracts)	419 CONTRACT(S)    (2.095 million OZ)
No of oz to be served (notices)	182 contracts  (0.910 million oz)
Total monthly oz silver served (contracts)	419 Contracts  (2.095 MILLION oz)
Total accumulative withdrawal of silver from the Dealers inventory this month	NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month

i)  0 dealer  deposit/

total dealer deposit : nil oz

i) We had  0 dealer withdrawal

total dealer withdrawals: 0 oz

We had  2 customer deposits:

i) into JPMorgan: 593,085.190 oz oz

i) Into ASAHI 609,726.400 oz

total customer deposit 1,202,811.590 oz

JPMorgan has a total silver weight: 133.621million oz/302.758million  or 43.89%

adjustment:1;

customer to dealer: CNT 1,018,723.983 oz

customer withdrawals: 2

i) Out of HSBC 80,026.980 oz

ii) Out of ASAHI 593,085.190 oz

iv) Out of CNT 8887.416 oz

total withdrawal: 673,112.0900z

TOTAL REGISTERED SILVER: 70.019 MILLION OZ//.TOTAL REG + ELIGIBLE. 303.738 million oz

CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR AUGUST:

silver open interest data:

FRONT MONTH OF AUGUST/2024 OI: 601 CONTRACTS HAVING LOST 211 CONTRACT(S). 

THUS BY DEFINITION, THE INITIAL AMOUNT OF SILVER WILLING TO STAND AT THE COMEX IS AS FOLLOWS:

601 CONTRACTS X 5000 OZ PER CONTRACT = 3,005,000 OZ

SEPT SAW A LOSS OF 2360 CONTRACTS TO 105,,457 SEPT NOW BECOMES THE NEW FRONT MONTH

.

TOTAL NUMBER OF NOTICES FILED FOR TODAY: 419 for 2.095 MILLION oz

CONFIRMED volume; ON TUESDAY 60,257  very good

To calculate the number of silver ounces that will stand for delivery in AUGUST we take the total number of notices filed for the month so far at 419 x 5,000 oz = 2.095 MILLION oz 

to which we add the difference between the open interest for the front month of AUGUST( 601) and the number of notices served upon today 419 x (5000 oz) equals the number of ounces standing.

Thus the  standings for silver for the AUGUST/2024 contract month:  419 notices served so far) x 5000 oz + OI for the front month of AUGUST (601)x number of notices served upon today minus (419)x 5000 oz of silver standing for the AUGUST  contract month equates to 3.005 MILLION OZ. 

 New total standing: 30.875 million oz.

There are 70.019 million oz of registered silver.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42. The previous record was 224,540 contracts with the price at that time of $20.44.

Now that we have surpassed $28.40 the next big line in the sand for silver is $34.76. After that the moon

END

GLD AND SLV INVENTORY LEVELS//

BOTH GLD AND SLV ARE MASSIVE FRAUDS!

GLD

JULY 31 WITH GOLD UP $26.55 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// A /////INVENTORY RESTS AT 843.17 TONNES

JULY 30 WITH GOLD UP $26.55 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// A /////INVENTORY RESTS AT 843.17 TONNES

JULY 29 WITH GOLD UP $27.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A WITHDRAWAL OF 1.98 TONNES OF GOLD OUT OF THE GLD/////INVENTORY RESTS AT 843.17 TONNES

JULY 26 WITH GOLD UP $27.35 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD// A DEPOSIT OF 3.45 TONNES OF GOLD INTO THE GLD/////INVENTORY RESTS AT 845.19 TONNES

JULY 25 WITH GOLD DOWN $60.45 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 841.74 TONNES

JULY 24 WITH GOLD UP $12.75 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD//A DEPOSIT OF 1,73 TOONNES OF GOLD INTO THE GLD ///INVENTORY RESTS AT 841.74 TONNES

JULY 23 WITH GOLD UP $12.75 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 840.01 TONNES

JULY 22 WITH GOLD DOWN $4.40 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD// ///INVENTORY RESTS AT 840.01 TONNES

JULY 19 WITH GOLD DOWN $56.10 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;:A WITHDRAWAL OF 2.01 TONNES OF GOLD FROM THE GLD// ///INVENTORY RESTS AT 840.01 TONNES

JULY 18 WITH GOLD DOWN $2.20 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;: ///INVENTORY RESTS AT 842.02 TONNES

JULY 17 WITH GOLD DOWN $6.60 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A MASSIVE DEPOSIT OF 5.49 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 842.02 TONNES

JULY 16 WITH GOLD UP $38.60 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A DEPOSIT OF 1.44 TONNES OF GOLD INTO THE GLD///INVENTORY RESTS AT 836.53 TONNES

JULY 15 WITH GOLD UP $8.15 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;: /INVENTORY RESTS AT 835.09 TONNES

JULY 12 WITH GOLD DOWN $0.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD;: A DEPOSIT OF 1.72 TONNES OF GOLD INTO THE GLD//INVENTORY RESTS AT 835.09 TONNES

JULY 11 WITH GOLD UP $43.05 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD;:INVENTORY RESTS AT 833.37 TONNES

JULY 10 WITH GOLD UP $12.00 ON THE DAY; HUUGE CHANGES IN GOLD INVENTORY AT THE GLD; A WITHDRAWAL OF 1.44 TONNES OF GOLD VAPOUR FROM THE GLD//.//:INVENTORY RESTS AT 833.37 TONNES

JULY 9 WITH GOLD UP $5.00 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD.//:INVENTORY RESTS AT 834.81 TONNES

JULY 8 WITH GOLD DOWN $26.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD.//:INVENTORY RESTS AT 834.81 TONNES

JULY 5 WITH GOLD UP $29.90 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD..A DEPOSIT OF 1.10 TONNES OF GOLD VAPOUR INTO THE GLD//:INVENTORY RESTS AT 833.37 TONNES

JULY 3 WITH GOLD UP $35.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD..A MASSIVE DEPOSIT OF 5.76 TONNES OF GOLD VAPOUR INTO THE GLD//:INVENTORY RESTS AT 833.37 TONNES

JULY 2 WITH GOLD DOWN $4.45 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD../:INVENTORY RESTS AT 827.61 TONNES

JULY 1 WITH GOLD DOWN $.30 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES

JUNE 28 WITH GOLD UP $3.80 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES

JUNE 27 WITH GOLD DOWN $16.95 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES

JUNE 26 WITH GOLD UP $23.70 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/:INVENTORY RESTS AT 829.05 TONNES

JUNE 25 WITH GOLD DOWN $13.25 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 2.88 TONNES OF GOLD FROM THE GLD  INVENTORY RESTS AT 829.05 TONNES

JUNE 24 WITH GOLD UP$14.30 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A STRONG WITHDRAWAL OF 1.72 TONNES OF GOLD/NEW TOTAL TONIGHT 831.93 TONNES

JUNE 21 WITH GOLD DOWN $37.40 ON THE DAY; HUGE CHANGES IN GOLD INVENTORY AT THE GLD/:/ A MAMMOTH 8.34 TONNES OF GOLD VAPOUR DEPOSIT/NEW TOTAL TONIGHT 833.65 TONNES

JUNE 20 WITH GOLD UP $23.60 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES

JUNE 18 WITH GOLD UP $17.25 ON THE DAY; NO CHANGES IN GOLD INVENTORY AT THE GLD/://NEW TOTAL TONIGHT 825.31 TONNES

GLD INVENTORY: 843.17 TONNES, TONIGHTS TOTAL

SILVER

JULY 31//WITH SILVER UP $0.45//NO CHANGES IN SILVER INVENTORY: /./// /INVENTORY REMAINS AT 460.596 MILLION OZ

JULY 30//WITH SILVER UP $0.61//SMALL CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 0.456 MILLION OZ OF SILVER VAPOUR INTO THE SLV/./// /INVENTORY RISES AT 460.596 MILLION OZ

JULY 29//WITH SILVER DOWN $0.07//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 4.382 MILLION OZ OF SILVER VAPOUR INTO THE SLV/./// /INVENTORY RISES AT 461.052 MILLION OZ

JULY 26//WITH SILVER DOWN $0.07//NO CHANGES IN SILVER INVENTORY./// /INVENTORY REMAINS AT 456.670 MILLION OZ

JULY 25 WITH SILVER DOWN $1.37//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 3.124 MILLION OZ OF SILVER OUT OF THE SLV./// /INVENTORY FALLS TO 456.670 MILLION OZ

JULY 24 WITH SILVER UP 3 CENTS//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 15.880 MILLION OZ OF SILVER INTO THE SLV./// /INVENTORY RISES AT 439.780 MILLION OZ

JULY 23 WITH SILVER UP 3 CENTS//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 15.880 MILLION OZ OF SILVER INTO THE SLV./// /INVENTORY RISES AT 439.780 MILLION OZ

JULY 22 WITH SILVER UP 2 CENTS//HUGE CHANGES IN SILVER INVENTORY: A DEPOSIT OF 3.920 MILLION OZ OF SILVER INTO THE SLV./// /INVENTORY RISES AT 439.780 MILLION OZ

JULY 19 WITH SILVER DOWN 94 CENTS//NO CHANGES IN SILVER INVENTORY/// /INVENTORY REMAINS AT 435.854 MILLION OZ

JULY 18 WITH SILVER DOWN 13 CENTS//HUGE CHANGES IN SILVER INVENTORY” A DEPOSIT OF 2.374 MILLION OZ INTO THE SLV/// /INVENTORY RISES TO 435.854 MILLION OZ

JULY 17. WITH SILVER DOWN 75 CENTS//NO CHANGES IN SILVER INVENTORY// /INVENTORY REMAINS AT 433.480 MILLION OZ.

JULY 16. WITH SILVER UP 30 CENTS//NO CHANGES IN SILVER INVENTORY// /INVENTORY REMAINS AT 433.480 MILLION OZ.

JULY 15. WITH SILVER DOWN 24 CENTS//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 2.145 MILLION OZ FROM THE SLV.// /INVENTORY LOWERS T0 AT 433.480 MILLION OZ.

JULY 12. WITH SILVER DOWN $.65 CENTS//NO CHANGES IN SILVER INVENTORY /INVENTORY REMAINS CONSTANT AT 435.625 MILLION OZ.

JULY 11. WITH SILVER UP $.72 CENTS//HUGE CHANGES IN SILVER INVENTORY A WITHDRAWAL OF 0.731 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 435.625 MILLION OZ.

JULY 10. WITH SILVER DOWN $.04 CENTS//HUGE CHANGES IN SILVER INVENTORY A MAMMOTH WITHDRAWAL OF 3.744 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 436.356 MILLION OZ.

JULY 9. WITH SILVER UP 13 CENTS//HUGE CHANGES IN SILVER INVENTORY A MAMMOTH WITHDRAWAL OF 3.744 MILLION OZ OF SILVER VAPOUR OUT OF THE SLV.: /INVENTORY FALLS T0 436.356 MILLION OZ.

JULY 8. WITH SILVER DOWN $0.73//SMALL CHANGES IN SILVER INVENTORY A MAMMOTH DEPOSIT OF 3,292,000 OZ OF SILVER VAPOUR INTO THE SLV.: /INVENTORY RISES T0 440.100 MILLION OZ.

JULY 4. WITH SILVER UP $0.85//SMALL CHANGES IN SILVER INVENTORY A MAMMOTH DEPOSIT OF 3,292,000 OZ OF SILVER VAPOUR INTO THE SLV.: /INVENTORY RISES T0 440.100 MILLION OZ.

JULY 3. WITH SILVER UP $1.08//SMALL CHANGES IN SILVER INVENTORY A SMALL WITHDRAWAL OF 639,000 OZ: /INVENTORY LOWERS T0 436,808 MILLION OZ.

JULY 2. WITH SILVER UP $0.19//NO CHANGES IN SILVER INVENTORY: /INVENTORY REMAINS AT 437.447 MILLION OZ./

JULY 1. WITH SILVER UP $0.05//XXX CHANGES IN SILVER INVENTORY: A DEPOSIT OF 182,000 OZ OF SILVER INTO THE SLV./.// /INVENTORY RISES AT 437.447 MILLION OZ./

JUNE 28. WITH SILVER UP $0.27//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 913,000 OZ FROM THE SLV./.// /INVENTORY REMAINS AT 437.265 MILLION OZ./

JUNE 27. WITH SILVER UP $0.01//NO CHANGES IN SILVER INVENTORY: .// /INVENTORY REMAINS AT 438.178 MILLION OZ.//

JUNE 26. WITH SILVER UP $0.03//HUGE CHANGES IN SILVER INVENTORY: A HUGE WITHDRAWAL OF 2.512 MILLION OZ OF SILVER FROM THE SLV.// /INVENTORY FALLS TO 438.178 MILLION OZ.//

JUNE 25. WITH SILVER DOWN $0.63//HUGE CHANGES IN SILVER INVENTORY: A MAMMOTH DEPOSIT OF 7.835 MILLION OZ OF SILVER VAPOUR INTO THE SLV.// /INVENTORY RISE TO 440.69 MILLION OZ.//WHAT AN ABSOLUTE FRAUD.

JUNE 24. WITH SILVER DOWN $0.05//HUGE CHANGES IN SILVER INVENTORY: A WITHDRAWAL OF 2.104 MILLION OZ FROM THE SLV.// /INVENTORY LOWERS TO 432.835 MILLION OZ.

JUNE 21. WITH SILVER DOWN $1.15//NO CHANGES IN SILVER INVENTORY’// /INVENTORY REMAINS AT 434.935 MILLION OZ.

JUNE 20. WITH SILVER UP $1.17//HUGE CHANGES IN SILVER INVENTORY’ A DEPOSIT OF 5.164 MILLION OZ INTO THE SLV/// /INVENTORY RISES TO 434.929 MILLION OZ.

JUNE 18. WITH SILVER UP $0.21//NOCHANGES IN SILVER INVENTORY’ A WITHDRAWAL .730 MILLION OZ INTO THE SLV/// /INVENTORY FALLS TO 429.775 MILLION OZ.

CLOSING INVENTORY 460.596 MILLION OZ//

PHYSICAL GOLD/SILVER COMMENTARIES

1.PETER SCHIFF SCHIFF GOLD/MIKE MAHARRAY

2. ALASDAIR MACLEOD/JIM RICKARDS/PAM AND RUSS MARTENS/ JAMES RICKARDS/ VON GREYERZ//GOLD AND SILVER COMMENTARY

end

3.CHRIS POWELL AND DAILY GOLD/SILVER DISPATCHES

DUMB MOVE!

Looks like Argentina has leased or pawned its gold in London

Submitted by admin on Tue, 2024-07-30 10:50 Section: Daily Dispatches

The Mystery of Argentina’s Gold: Milei Admits That It Was Transferred Abroad, Without Specifying the Quantities or Destination

By Havier Lorca
El Pais, Madrid
Sunday, July 28, 2024

Argentina’s reserves, held by its central bank, include almost 2 million troy ounces of gold, valued at about $4.5 billion. But lately there’s a question that’s on everybody’s lips: Where is it? 

Was it taken out of the country? Did some of it remain within Argentina, while the rest was transferred abroad? 

Well, the official information only offers partial answers.

The administration of far-right President Javier Milei admitted to the recent transfer of gold abroad but didn’t specify quantities, the destination, or the purpose for this measure. Nor did the Central Bank provide any details.

In a scenario of financial instability — and with the government facing the need to accumulate reserves — the decision generated suspicions and speculation. There are also fears that the gold could  be seized, due to longstanding legal cases that have been filed against Argentina by foreign creditors.

The transfer of the gold was not officially announced by the government or the central bank. Rather, the information came from the bank workers’ union, known as La Bancaria. Its leader — the left-wing legislator Sergio Palazzo — presented a request within the framework of the Law of Access to Public Information for the Central Bank of the Argentine Republic (BCRA), asking if there were any operations to send gold bars abroad during June. 

Specifically, he demanded to know if transfers of gold took place on June 7 and June 28 through Lumil — a private security firm that transports valuables — and British Airways. He also wanted to know the specific amounts, their destination, the administrative procedures taken, as well as the names of the officials involved.

The BCRA has 30 days to respond to the legislator and has not yet done so. But last Friday, Minister of Economy Luis Caputo acknowledged that the operation was indeed carried out. “It’s a very positive move. … If you have gold in the BCRA, it’s as if you have assets inside that cannot be used for anything. If you have it outside the country, you can get returns,” he argued in an interview with La Nacion+, an Argentine TV channel. “It’s much better to have it guarded outside, where they pay you something.”

His words suggest that the purpose of the shipment — possibly to London or Basel, according to speculation — was to deposit the gold and earn interest. 

However, if that’s indeed the case, numerous economists have warned that the logic of the transfer — with the cost of the required insurance — didn’t justify the operation, given that the returns are very low. …

… For the remainder of the report:

https://english.elpais.com/economy-and-business/2024-07-28/the-mystery-of-argentinas-gold-milei-admits-that-it-was-transferred-abroad-without-specifying-the-quantities-or-destination.html

* * *

END

Bill to create U.S. bitcoin reserve would finance it with gold revaluation

Submitted by admin on Wed, 2024-07-31 09:12 Section: Daily Dispatches

U.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed’s Gold, Draft Bill Shows

By Bradley Keoun
CoinDesk, New York
Tuesday, July 30, 2024

U.S. Senator Cynthia Lummis’ plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk.

Lummis, a Wyoming Republican known for her Bitcoin-friendly policy stance, announced her intention to propose the reserve on Saturday at the Bitcoin Nashville conference. She came onstage just minutes after former U.S. President Donald Trump, the Republican nominee in this year’s presidential race, delivered a speech on blockchain policy before the cheering room, filled to its 8,500-person capacity. …

… For the remainder of the report:

https://www.coindesk.com/policy/2024/07/30/us-strategic-bitcoin-reserve-to-be-funded-partly-by-revaluing-feds-gold-draft-bill-show

4. GOLD PODCASTS//LIVE FROM THE VAULT

5 B GLOBAL COMMODITY ISSUES/FOOD IN GENERAL//FREIGHT/COCOA

6 CRYPTOCURRENCY NEWS

Russia Legalizes Bitcoin For International Trade To Bypass Sanctions

WEDNESDAY, JUL 31, 2024 – 07:20 AM

Authored by Nik Hoffman via BitcoinMagazine.com,

In a significant legislative move, Russian lawmakers have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade, according to a report by Reuters.

This development is part of Russia’s strategy to circumvent Western sanctions imposed following the invasion of Ukraine. The new law, expected to take effect in September, aims to address delays in international payments, particularly with key trading partners like China, India, and the UAE.

Post

See new posts

Conversation

Bitcoin Magazine

@BitcoinMagazine

Subscribe

JUST IN: Russian law makers passes bill allowing businesses to use #Bitcoin and cryptocurrencies in international trade — Reuters

10:52 AM · Jul 30, 2024

·

263.6K Views

JUST IN: 🇷🇺 Russian law makers passes bill allowing businesses to use #Bitcoin and cryptocurrencies in international trade — Reuters pic.twitter.com/yFExWcIG9k

— Bitcoin Magazine (@BitcoinMagazine) July 30, 2024

Central bank Governor Elvira Nabiullina, a proponent of the law, announced that the first cryptocurrency transactions will occur before the year’s end.

The central bank will establish an “experimental” infrastructure for these payments, with further details pending.

“The risks of secondary sanctions have grown,” Nabiullina stated. 

“They make payments for imports difficult, and that concerns a wide range of goods.”

The legislation also includes regulations on cryptocurrency mining and the circulation of other digital assets but maintains the ban on cryptocurrency payments within Russia.

The central bank highlighted that payment delays have caused an 8% drop in Russian imports in the second quarter of 2024.

Despite efforts to shift to trading partners’ currencies and develop an alternative BRICS payment system, many transactions still rely on dollars and euros via the SWIFT system, risking secondary sanctions.

Nabiullina emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs.

This decision by Russian lawmakers aims to mitigate the economic challenges posed by sanctions and ensure smoother international trade operations. 

Anatoly Aksakov, the head of the Duma lower house of parliament, reportedly told lawmakers, “We are taking a historic decision in the financial sphere” by passing this legislation. 

END

ASIA TRADING/WEDNESDAY MORNING/TUESDAY  NIGHT

SHANGHAI CLOSED UP 59.45 PTS OR 2.06% //Hang Seng CLOSED UP 341.69 PTS OR 2.01% // Nikkei CLOSED UP 575.82 OR 1.49%//Australia’s all ordinaries CLOSED UP 1.79%///Chinese yuan (ONSHORE) closed UP TO 7,2213 CHINESE YUAN OFFSHORE CLOSED UP TO 7.2255/ Oil UP TO 77.02 dollars per barrel for WTI and BRENT DOWN AT 80.32 Stocks in Europe OPENED MOSTLY GREEN

ONSHORE YUAN TRADING ABOVE LEVEL OF OFFSHORE YUAN/ONSHORE YUAN  TRADING STRONGER AGAINST US DOLLAR/OFFSHORE YUAN STRONGER

1.YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS WEDNESDAY MORNING.7:30 AM

ONSHORE YUAN:   CLOSED UP TO 7.2215

OFFSHORE YUAN: UP TO 7.2255

SHANGHAI CLOSED UP 59.45 PTS OR 2.06 %

HANG SENG CLOSED UP 341.69 PTS OR 2.01%

2. Nikkei closed UP 575.82 PTS OR 1.49%

3. Europe stocks   SO FAR:  ALL MOSTLY GREEN

USA dollar INDEX DOWN TO  103.85 EURO RISES TO 1.0837 UP 22 BASIS PTS

3b Japan 10 YR bond yield: RISES TO. +1,051 Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 150.46…… JAPANESE YEN NOW RISING AS WE HAVE NOW REACHED THE END OF THE YEN CARRY TRADE

3c Nikkei now  ABOVE 17,000

3d USA/Yen rate now well ABOVE the important 120 barrier this morning

3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP OFFSHORE: UP

3f Japan is to buy INFINITE  TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA

Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.

3g Oil UP for WTI and UP FOR DOWN this morning

3h European bond buying continues to push yields lower on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.318/Italian 10 Yr bond yield DOWN to 3.665 SPAIN 10 YR BOND YIELD DOWN TO 3.128%

3i Greek 10 year bond yield DOWN TO 3.311

3j Gold at $2423.50//Silver at: 28.69  1 am est) SILVER NEXT RESISTANCE LEVEL AT $34.40//AFTER 28.40

3k USA vs Russian rouble;// Russian rouble UP 0 AND 10/ 100  roubles/dollar; ROUBLE AT 86.31

3m oil into the 77 dollar handle for WTI and  80 handle for Brent/

3n Higher foreign deposits moving out of China//  huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/

JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 150.46/  10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 1.051 % STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE IS NOW UNWINDING.

30 SNB (Swiss National Bank) still intervening again in the markets driving down the FRANC. It is not working: USA/SF this 0.8805as the Swiss Franc is still rising against most currencies. Euro vs SF:   0.9544 well above the floor set by the Swiss Finance Minister. Thomas Jordan, chief of the Swiss National Bank continues to purchase euros trying to lower value of the Swiss Franc.

USA 10 YR BOND YIELD: 4.133 DOWN 1 BASIS PTS…

USA 30 YR BOND YIELD: 4.392 DOWN 1 BASIS PTS/

USA 2 YR BOND YIELD:  4.358 DOWN 1 BASIS PTS

USA DOLLAR VS TURKISH LIRA: 33.14…

10 YR UK BOND YIELD: 4.047 DOWN 1 PTS

10 YR CANADA BOND YIELD: 3.256 DOWN 3 BASIS PTS

2a New York OPENING REPORT

Futures Surge As Tech, Semis Rebound Ahead Of Fed Decision

WEDNESDAY, JUL 31, 2024 – 08:13 AM

Despite disappointing earnings from world’s second biggest company and Mag 7 titan, Microsoft, global stocks rallied on Wednesday, with Nasdaq 100 index futures jumping, as a flurry of bullish news powered a rebound in technology stocks ahead of today’s Fed meeting. US equity futures are higher with Tech leading and Semis outperforming: NVDA +5% pre-mkt following AMD’s earnings (+9.3%) and a positive read-thru from MSFT earnings even though Microsoft itself is down 3% (cutting losses from as much as 7% and is the only member of Mag7 in the red). As of 7:45am ET S&P futures were up 0.9% with Nasdaq futures surging more than 1.5% as the AI trade appears to remain intact despite yesterday’s latest tech rout. Bond yields are flat and USD is weaker ahead of today’s FOMC decision where Jerome Powell is expected to signal a potential rate cut for the US in September later today (see our preview here) as the yen soars after the BOJ surprises with a hawkish hike even as its economy careens of a cliff assuring this will be the shortest hiking cycle in recent history. Commodities higher led by energy following yesterday’s supply drawdown and relief rally as WTI has seen ~8% drawdown this month; oil extended gains after Hamas said Israel killed its political leader, stoking tensions in a region that produces around a third of the world’s crude. Today, we receive ADP (which has not been predictive of NFP) and the Fed decision. Mag7 earnings continues with META.

In premarket trading, Dutch ASML Holding and other semiconductor shares surged 11% after Reuters reported of an apparent flip-flop in US plans, now looking to exempt chip-equipment makers in Japan, the Netherlands and South Korea from upcoming export restrictions, refuting the Bloomberg report 2 weeks ago that the US floated trade rules to rein in China’s chip industry. Nvidia added 6% as Morgan Stanley said the selloff has opened up a good entry point. That said, the Kamala administration is still under pressure to take additional steps to curb Beijing’s technological developments, and the semiconductor-production equipment companies may still face constraints on selling to Chinese companies, people familiar with the situation told Bloomberg. Meanwhile, Microsoft shares slid after its Azure cloud-computing service posted a slowdown in quarterly growth. Revenue from Azure, Microsoft’s main growth engine in recent years, rose 29% in the fiscal fourth quarter, compared with a 31% jump in the previous period and whispers of a 32% increase. On the other end, AMD jumped 8% after the chipmaker gave an upbeat revenue forecast, underscoring that its new artificial intelligence processors are boosting growth. Here are other notable premarket movers:

• BorgWarner climbs 3% after posting 2Q profit that beat the average analyst estimate.
• Dupont de Nemours gains 4% after 2Q profit exceeded investor expectations as AI-driven demand for semiconductors drove gains in its electronics business.
• Groupon slides 17% after the online coupon company lowered its adjusted Ebitda forecast for the year.
• Humana falls 8% after cutting its year profit forecast.
• Match Group jumps 10% after the dating-app company said it plans to cut 6% of its global staff as it shuts down livestreaming services across some of its dating apps. Match is under pressure from activists to deliver a turnaround
• Microsoft drops 3% after the company’s Azure cloud-computing service posted a slowdown in quarterly growth, disappointing investors anxious to see a payoff from huge investments in artificial intelligence products.
• O-I Glass drops 16% after the producer of glass bottles cut its yearly profit forecast, reflecting softer-than-expected demand.
• Pinterest falls 11% after the internet platform forecast revenue for the 3Q that missed the average analyst estimate.
• Starbucks advances 3% after delivering results that were in line with expectations, assuaging investors who had been bracing for another meltdown after being blindsided by the previous quarter’s slump.
• T-Mobile rises 2% after posting 2Q postpaid net customers that beat the average analyst estimate.

Now investors are awaiting results from Meta Platforms due after the close today, with the firm’s AI investments expected to be in focus. It’s an action-packed day ahead in markets, where we also get Powell signaling a potential rate cut for September.

Tech stocks had been hammered in recent days as earnings failed to live up to sky-high expectations and traders speculated that the artificial intelligence frenzy had become excessive.

“I’m really satisfied with the earnings of AI stocks, it proves that it’s not a bubble,” said Fares Hendi, portfolio manager of at SG Prevoir in Paris. “The selloff wasn’t related to earnings but rather on valuation and some investors worrying about a bubble, but that’s not the case. For the moment, the cycle goes on.”

Elsewhere, the Bank of Japan raised its benchmark interest rate and unveiled plans to cut its bond purchases (by far less than expected), underscoring its determination to normalize monetary policy. The yen strengthened 1.5% against the dollar and equities advanced after the decision, led by a surge of almost 5% in bank stocks.

“It fits under the umbrella of normalization, whether that’s from the BOJ or what we hear from the Fed later,” Grace Peters, global head of investment strategy at JPMorgan Private Bank, said in an interview with Bloomberg TV. “The theme of normalization is what we need to see to continue supporting equity markets and risk assets more broadly.”

Europe’s Stoxx 600 is up 0.9%, as ASML leads a rally in European technology shares after Reuters reported the Biden administration planned to exempt chip-equipment makers in Japan, the Netherlands and South Korea from upcoming export restrictions.  Meanwhile, euro-area inflation unexpectedly quickened, an outcome that may make the European Central Bank warier about cutting interest rates further when it meets in September. The DAX is lagging peers given the inflation metrics, though strength in Airbus’ German listing is providing support alongside strength in Infineon. FTSE 100 outperforms with mining names outperforming and supporting with post-earnings strength in HSBC and the housing sector with Taylor Wimpey supporting.

Asian stocks advanced as Chinese shares recouped some of their recent losses, while Japanese shares erased earlier declines after the Bank of Japan raised interest rates. The MSCI Asia Pacific Index rose as much as 2.2%, boosted by gains in semiconductor shares after Reuters reported the Biden administration planned to exempt chip-equipment makers in some US allies from export restrictions. Wednesday’s jump helped put the regional benchmark on track for a third-straight monthly advance.

Key equity gauges in mainland China and Hong Kong climbed about 2%, with the CSI 300 Index capping its best day since February, as the latest sign of slowing economic growth spurred bets on stronger support measures from Beijing. Australian stocks rose after the nation’s core inflation unexpectedly decelerated last quarter, supporting the case for central bank easing.

In FX, the dollar declined against every Group-of-10 currency apart from the Australian dollar. The Japanese yen advances 1.5% against the US dollar – pulling USD/JPY down to 150.10 – after the Bank of Japan raised its benchmark interest rate and unveiled plans to halve bond purchases. The Bloomberg Dollar Spot Index is down 0.3% ahead of the Federal Reserve decision later on Wednesday.

In rates, treasuries were little changed with 10Y yields trading at 4.13%. Gilts lead gains in European government debt ahead of the Bank of England decision on Thursday. Bunds are off the highs after euro-area inflation unexpectedly accelerated in July.

In commodities, oil prices advance on rising geopolitical risks after Hamas said Israel killed its political leader with an airstrike. US crude futures rise 2.6% to $76.70 a barrel. Spot gold adds $9 to around $2,420/oz.

Bitcoin is holding around the USD 66k handle which keeps it toward the mid-point of parameters. Ethereum rebounded back over $3,300 following a surge in buying by the Blackrock ETF.

Today’s economic data slate includes July ADP employment change (8:15am), 2Q employment cost index (8:30am), July MNI Chicago PMI (9:45am, several minutes earlier for subscribers) and June pending home sales (10am). Of course, the Fed will reveals its rate decision at 2pm ET.

Market Snapshot

• S&P 500 futures up 1.0% to 5,525.25
• STOXX Europe 600 up 0.9% to 518.86
• MXAP up 2.1% to 183.40
• MXAPJ up 1.1% to 564.83
• Nikkei up 1.5% to 39,101.82
• Topix up 1.4% to 2,794.26
• Hang Seng Index up 2.0% to 17,344.60
• Shanghai Composite up 2.1% to 2,938.75
• Sensex up 0.2% to 81,646.28
• Australia S&P/ASX 200 up 1.7% to 8,092.33
• Kospi up 1.2% to 2,770.69
• German 10Y yield little changed at 2.31%
• Euro little changed at $1.0813
• Brent Futures up 2.0% to $80.24/bbl
• Gold spot up 0.2% to $2,416.71
• US Dollar Index down 0.27% to 104.28

Top Overnight News

• The BOJ raised its key rate to around 0.25% and unveiled plans to halve bond purchases as it normalizes policy. Governor Kazuo Ueda pledged to keep hiking if the central bank’s price outlook materializes. The BOJ is looking into why some market participants couldn’t access its website ahead of the decision. BBG
• Australia’s trimmed mean CPI rose by a bit less than anticipated in Q2 (+0.8% vs. the Street +1%). RTRS  
• ASML/Tokyo Electron shares surge on reports they will be excluded from new US rules limiting semiconductor equipment exports to China. RTRS
• China will expand export controls on a range of drone parts, a sign Beijing is looking to placate the US and NATO by clamping down on its support for Putin’s war. SCMP  
• Eurozone CPI for Jul runs hot, coming in at +2.6% headline (up from +2.5% in June and ahead of the Street’s +2.5% forecast) and +2.9% core (flat vs. June and above the Street’s +2.8% forecast). BBG
• Hamas political leader Ismail Haniyeh was killed in Iran while the IDF took out a senior Hezbollah official (Fuad Shukr) just hours earlier in Beirut. NYT  
• MSFT briefly plunged nearly 8% post close yday. Just shows the mkt sensitivity to a very slight miss in cloud. That said the narrative here is that it’s actually a lack of availability of AI components that is constraining their growth. “We are constrained on AI capacity, and because of that, we’ve…signed up with third parties to help us,” (MSFT CFO). The implications for semi capex are supportive. GS GBM
• Harris is running slightly ahead of Trump in critical swing states according to a new Bloomberg/Morning Consult poll, while a separate poll had her up 4 points in the must-win state of Pennsylvania. BBG
• The Fed will probably move closer to lowering rates by signaling a potential cut in September, though may stop short of giving details beyond that. The policy statement may be tweaked to say there’s been “further progress” on inflation versus “modest.” BBG
• US VP Harris is expected to announce her VP pick as soon as Monday, according to sources cited by Reuters. It was also reported that Harris will hold her first rally with her running mate next Tuesday in Philadelphia: Politico.

BOJ

• BoJ raised its short-term interest rate to 0.25% (prev. 0.00-0.10%) and announced a change in bond purchases in which it will no longer provide a range but will instead specify amounts, while the BoJ is to reduce scheduled monthly bond buying by around JPY 400bln each quarter and with bond purchases to be JPY 3tln a month as of Q1 2026. BoJ said the decision on rates was made by a 7-2 vote with Nakamura and Noguchi the dissenters, while the decision on bond buying made unanimously. Furthermore, it stated that it may modify the bond-taper plan upon mid-term view as appropriate, if deemed necessary for functioning of JGB market, and at the June 2025 meeting, the BoJ will discuss the guideline for its JGB buying from April 2026 and announce results.
• BoJ’s Ueda: Upside risks to prices require attention; Will continue to lift rates and adj. the degree of easing, if the current economic/price outlook is realised; “We don’t have a 0.5% policy rate in mind as a ceiling.”; Main issue is where to stop raising rates, when approaching the neutral rate; Policy response this time was made considering the upward risks to prices as being considerably large.

A more detailed look at global markets courtesy of Newsquawk

APAC stocks gained heading into month-end as participants digested a slew of data releases and the BoJ policy decision. ASX 200 was led by strength in energy and tech, while domestic yields were pressured after mostly softer inflation data. Nikkei 225 declined heading into the BoJ policy decision after rate hike bets were boosted following several local press reports that the central bank is to consider a 15bps rate increase and although the hike materialised, the Bank’s taper plan was less aggressive than many had called for. Hang Seng and Shanghai Comp. gained as participants digested the latest Chinese PMI data in which headline Manufacturing PMI topped forecasts despite remaining in contraction territory, while Non-Manufacturing PMI matched estimates.

Top Asian News

• Chinese Vice Finance Minister said will strengthen fiscal policy adjustments and deepen fiscal and tax reforms, while they will steadily implement consumption tax reform in a step-by-step way and standardise the management of local governments’ non-tax revenues. Furthermore, China will step up fiscal policy implementation to promote economic recovery.

Stocks in Europe opened mostly firmer as the optimism from Asia-Pac reverberated into Europe, Euro Stoxx 50 +1.1%. Modest downside in the European bourses was seen on the hotter-than-expected EZ Flash HICP numbers, though this was within ranges and only modest in nature. Sectors mostly positive, outperformance in Tech as AMD and US exemption reports lift constituents in the sector; Basic Resources benefit from the rise in base metals following Chinese PMIs; Energy names following the underlying benchmarks. DAX 40 +0.6% firmer, but lagging peers given the inflation metrics, though strength in Airbus’ German listing is providing support alongside strength in Infineon. FTSE 100 1.3% outperformers with mining names outperforming and supporting with post-earnings strength in HSBC and the housing sector with Taylor Wimpey supporting. Note, technical issues are ongoing at SIX which is impacting on equity trade in Spain and Switzerland.

Top European News

• L’Oreal (OR FP) CEO says the China market turned negative in Q2, do not see any pick up in consumer confidence. Expect growth in China to remain “slightly negative”

FX

• DXY lower on account of JPY strength; index down to a 104.17 base. Focus on the FOMC, for that the 50 and 100DMAs @ 104.87 and 104.91 respectively provide resistance.
• USD pressure comes amid marked JPY gains; reaction to the BoJ announcement itself was pronounced and two-way but settled shortly after. Thereafter, JPY began strengthening during Ueda’s presser but really picked up on its conclusion and USD/JPY is down to a 150.07 base, with little of note after 150.00 until essentially 149.00.
• EUR picking up after hawkish pan-EZ/Italian inflation data, which offset the earlier dovish French print, though no real follow through for ECB pricing. EUR/USD is currently contained within yesterday’s 1.0798-1.0835 parameters
• Cable contained ahead of Thursday’s BoE and as such is within Tuesday’s 1.2820-86 range.
• Aussie lags post-CPI which saw the RBA’s preferred core measures come in softer-than-expected and bolster odds of an unchanged rate next week from circa 80% to around 95%; AUD/USD as low as 0.6480.
• PBoC set USD/CNY mid-point at 7.1346 vs exp. 7.2419 (prev. 7.1364).

Fixed Income

• Pronounced two-way action in JGBs on the BoJ announcement; initial reaction to the hike saw JGBs slump to a 142.63 base. However, this pared instantly and shot to a 143.16 peak given the ‘slow’ taper.
• EGBs derived a positive lead from the above, extended by cooler-than-expected French CPI to a 133.76 peak for Bunds. Thereafter, the early release of Italy’s prelim. metrics were hotter-than-expected and trimmed Bunds into the pan-EZ figure which sparked a further pullback but still clear of the earlier 133.36 base.
• USTs near the unchanged mark, action this morning dictated by the above into Quarterly Refunding, ADP, Chicago PMI and then the FOMC/Powell.
• Germany sells EUR 2.472bln vs exp. EUR 3.0bln 2.40% 2030 Bund: b/c 2.2x (prev. 2.60x), average yield 2.25% (prev. 2.55%) & retention 17.6% (prev. 18.6%)

Commodities

• Crude benchmarks firmer across the board, underpinned by the escalating geopolitical backdrop; WTI Sep & Brent Oct at highs USD 76.86/bbl and USD 80.15/bbl.
• In short, Israel struck targets in both the Lebanese and the Iranian capitals overnight, taking out a Hezbollah commander and the leader of Hamas Ismail Haniyeh. This has stoked fears of an expansion of the conflict in the region.
• Precious metals are higher across the board, given the geopolitical risk premia; XAU is back above USD 2400/oz to a USD 2425/oz peak. Base peers are also supported, by the better-than-feared Chinese PMIs overnight which have shown some signs of a stabilising manufacturing sector.
• US Private Inventory (bbls): Crude -4.5mln (exp. -1.1mln), Distillate -0.3mln (exp. -1.2mln), Gasoline -1.9mln (exp. -1mln), Cushing -0.9mln.
• India’s Steel Ministry has reportedly sought a probe into cheaper imports, via Reuters citing Indian gov’t sources; remarking that China and Vietnam are shipping cheaper steel to India.

Geopolitics: Middle East

• Hamas stated that its political bureau chief Haniyeh was killed in Iran by an Israeli air strike on his house in Tehran, while a Hamas official said the assassination is a cowardly act that will not go unpunished, according to Al-Aqsa TV. It was also reported that Iran said it is investigating the assassination of Haniyeh with the results to be published soon, according to Tasnim.
• UN special coordinator for Lebanon said they are deeply concerned about Israel’s strike in a densely populated southern suburb of Beirut which resulted in multiple civilian casualties, while they underscored there is no such thing as a military solution and called for diplomacy to end hostilities.
• Russia said that strikes on Lebanon are a flagrant violation of international law, according to TASS.
• Explosions were reported inside an Iraqi PMF base south of Baghdad causing casualties, according to Reuters sources, while the US later carried out a self-defence strike in Iraq because of a threat to coalition forces, according to an official cited by Reuters
• “Iran’s Supreme Leader: Iran sees as a duty to avenge Haniyeh’s assassination”, according to IRNA. Thereafter, Hezbollah MP Ammar says Israel “demands war, and we are up for it”.
• Sources involved in the Hamas-Israel hostage deal talks suggests “the killing of the Haniyeh will have an impact on the negotiations, since the Haniyeh was a significant figure in the negotiations”, via Kann’s Stein.

Geopolitics: Other

• Russian Foreign Ministry spokeswoman said any basis for dialogue with US arms control can come only after Washington refuses confrontation with Russia, according to RIA.

US Event Calendar

• 07:00: July MBA Mortgage Applications -3.9%, prior -2.2%
• 08:15: July ADP Employment Change, est. 150,000, prior 150,000
• 08:30: 2Q Employment Cost Index, est. 1.0%, prior 1.2%
• 09:45: July MNI Chicago PMI, est. 45.0, prior 47.4
• 10:00: June Pending Home Sales YoY, est. -7.4%, prior -6.6%
• 10:00: June Pending Home Sales (MoM), est. 1.4%, prior -2.1%
• 14:00: July FOMC Rate Decision

2B EUROPEAN REPORT

BoJ hiked, USD/JPY down to 150.07 post-Ueda; earnings, FOMC & refunding up next – Newsquawk US Market Open

WEDNESDAY, JUL 31, 2024 – 06:39 AM

• BoJ hiked and announced changes to its bond purchases; during but mainly post-Ueda marked JPY appreciation occurred with USD/JPY as low as 150.07
• Stocks in Europe opened mostly firmer as the optimism from Asia-Pac reverberated into Europe; US futures bid pre-FOMC; MSFT -3%, AMD +9%
• DXY lower on account of JPY strength, EUR supported post-HICP, GBP contained, AUD hit on its own CPI print
• Fixed initially followed JGBs higher before paring on the hotter-than-expected EZ/Italian CPI prints, though Bunds remain above the overnight base
• Crude and precious metals underpinned by the escalating geopolitical backdrop, base metals supported by better-than-feared Chinese PMIs
• Israel struck targets in both the Lebanese and the Iranian capitals overnight, taking out a Hezbollah commander and the leader of Hamas Haniyeh
• Looking ahead, highlights include US ADP & Chicago PMI, FOMC & BCB Policy Announcements, Fed Chair Powell’s Press Conference, Supply from Germany & US Quarterly Refunding Announcement. Earnings: ADP, Boeing, Mastercard, ARM, Meta, Qualcomm & T-Mobile US.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

BOJ

• BoJ raised its short-term interest rate to 0.25% (prev. 0.00-0.10%) and announced a change in bond purchases in which it will no longer provide a range but will instead specify amounts, while the BoJ is to reduce scheduled monthly bond buying by around JPY 400bln each quarter and with bond purchases to be JPY 3tln a month as of Q1 2026. BoJ said the decision on rates was made by a 7-2 vote with Nakamura and Noguchi the dissenters, while the decision on bond buying made unanimously. Furthermore, it stated that it may modify the bond-taper plan upon mid-term view as appropriate, if deemed necessary for functioning of JGB market, and at the June 2025 meeting, the BoJ will discuss the guideline for its JGB buying from April 2026 and announce results.
• BoJ’s Ueda: Upside risks to prices require attention; Will continue to lift rates and adj. the degree of easing, if the current economic/price outlook is realised; “We don’t have a 0.5% policy rate in mind as a ceiling.”; Main issue is where to stop raising rates, when approaching the neutral rate; Policy response this time was made considering the upward risks to prices as being considerably large.

EUROPEAN TRADE

EQUITIES

• Stocks in Europe opened mostly firmer as the optimism from Asia-Pac reverberated into Europe, Euro Stoxx 50 +1.1%.
• Modest downside in the European bourses was seen on the hotter-than-expected EZ Flash HICP numbers, though this was within ranges and only modest in nature.
• Sectors mostly positive, outperformance in Tech as AMD and US exemption reports lift constituents in the sector; Basic Resources benefit from the rise in base metals following Chinese PMIs; Energy names following the underlying benchmarks.
• DAX 40 +0.6% firmer, but lagging peers given the inflation metrics, though strength in Airbus’ German listing is providing support alongside strength in Infineon.
• FTSE 100 1.3% outperformers with mining names outperforming and supporting with post-earnings strength in HSBC and the housing sector with Taylor Wimpey supporting.
• Note, technical issues are ongoing at SIX which is impacting on equity trade in Spain and Switzerland.
• Stateside, futures are firmer across the board into the FOMC with ES +0.8%, NQ +1.3%; Microsoft -3% pressured pre-market after it missed on Cloud Revenue while AMD +9% leads on AI demand. Ahead, Meta dominates the after-hours docket.
• Click for the sessions European pre-market equity newsflow
• Click for the additional news
• Click for a detailed summary

FX

• DXY lower on account of JPY strength; index down to a 104.17 base. Focus on the FOMC, for that the 50 and 100DMAs @ 104.87 and 104.91 respectively provide resistance.
• USD pressure comes amid marked JPY gains; reaction to the BoJ announcement itself was pronounced and two-way but settled shortly after. Thereafter, JPY began strengthening during Ueda’s presser but really picked up on its conclusion and USD/JPY is down to a 150.07 base, with little of note after 150.00 until essentially 149.00.
• EUR picking up after hawkish pan-EZ/Italian inflation data, which offset the earlier dovish French print, though no real follow through for ECB pricing. EUR/USD is currently contained within yesterday’s 1.0798-1.0835 parameters
• Cable contained ahead of Thursday’s BoE and as such is within Tuesday’s 1.2820-86 range.
• Aussie lags post-CPI which saw the RBA’s preferred core measures come in softer-than-expected and bolster odds of an unchanged rate next week from circa 80% to around 95%; AUD/USD as low as 0.6480.
• PBoC set USD/CNY mid-point at 7.1346 vs exp. 7.2419 (prev. 7.1364).
• Click for a detailed summary
• Click for NY OpEx Details

FIXED INCOME

• Pronounced two-way action in JGBs on the BoJ announcement; initial reaction to the hike saw JGBs slump to a 142.63 base. However, this pared instantly and shot to a 143.16 peak given the ‘slow’ taper.
• EGBs derived a positive lead from the above, extended by cooler-than-expected French CPI to a 133.76 peak for Bunds. Thereafter, the early release of Italy’s prelim. metrics were hotter-than-expected and trimmed Bunds into the pan-EZ figure which sparked a further pullback but still clear of the earlier 133.36 base.
• USTs near the unchanged mark, action this morning dictated by the above into Quarterly Refunding, ADP, Chicago PMI and then the FOMC/Powell.
• Germany sells EUR 2.472bln vs exp. EUR 3.0bln 2.40% 2030 Bund: b/c 2.2x (prev. 2.60x), average yield 2.25% (prev. 2.55%) & retention 17.6% (prev. 18.6%)
• Click for a detailed summary

COMMODITIES

• Crude benchmarks firmer across the board, underpinned by the escalating geopolitical backdrop; WTI Sep & Brent Oct at highs USD 76.86/bbl and USD 80.15/bbl.
• In short, Israel struck targets in both the Lebanese and the Iranian capitals overnight, taking out a Hezbollah commander and the leader of Hamas Ismail Haniyeh. This has stoked fears of an expansion of the conflict in the region.
• Precious metals are higher across the board, given the geopolitical risk premia; XAU is back above USD 2400/oz to a USD 2425/oz peak. Base peers are also supported, by the better-than-feared Chinese PMIs overnight which have shown some signs of a stabilising manufacturing sector.
• US Private Inventory (bbls): Crude -4.5mln (exp. -1.1mln), Distillate -0.3mln (exp. -1.2mln), Gasoline -1.9mln (exp. -1mln), Cushing -0.9mln.
• India’s Steel Ministry has reportedly sought a probe into cheaper imports, via Reuters citing Indian gov’t sources; remarking that China and Vietnam are shipping cheaper steel to India.
• Click for a detailed summary

NOTABLE DATA RECAP

• EU HICP Flash YY (Jul) 2.6% vs. Exp. 2.5% (Prev. 2.5%); Ex-Food & Energy 2.8% vs. Exp. 2.7% (Prev. 2.8%); Ex-Food, Energy, Alcohol & Tobacco 2.9% vs. Exp. 2.8% (Prev. 2.9%)
• French CPI Prelim YY NSA (Jul) 2.3% vs. Exp. 2.4% (Prev. 2.2%); MM 0.1% vs. Exp. 0.3% (Prev. 0.1%)
• French CPI (EU Norm) Prelim YY (Jul) 2.6% vs. Exp. 2.7% (Prev. 2.5%)
• Italian Consumer Price Prelim YY * (Jul) 1.3% vs. Exp. 1.2% (Prev. 0.8%); MM 0.5% vs. Exp. 0.2% (Prev. 0.1%)
• German Import Prices MM (Jun) 0.4% vs. Exp. 0.1%; YY 0.7% vs. Exp. 0.5% (Prev. -0.4%)
• German Unemployment Chg SA (Jul) 18.0k vs. Exp. 15.0k (Prev. 19.0k)

NOTABLE EUROPEAN HEADLINES

• L’Oreal (OR FP) CEO says the China market turned negative in Q2, do not see any pick up in consumer confidence. Expect growth in China to remain “slightly negative”

NOTABLE US HEADLINES

• US VP Harris is expected to announce her VP pick as soon as Monday, according to sources cited by Reuters. It was also reported that Harris will hold her first rally with her running mate next Tuesday in Philadelphia, according to Politico.
• US VP Harris wiped out Republican Presidential Candidate Trump’s swing-state lead in the latest election poll, according to Bloomberg. Furthermore, the poll showed Harris gained ground versus Trump in each of the seven swing states since Biden dropped out of the race.
• Microsoft Corp (MSFT) Q4 2024 (USD): EPS 2.95 (exp. 2.93), Revenue 64.73bln (exp. 64.39bln), Intelligent Cloud rev. 28.52bln (exp. 28.72bln). -2.5% in pre-market trade
• Advanced Micro Devices Inc (AMD) Q2 2024 (USD): Adj. EPS 0.69 (exp. 0.68), Revenue 5.84bln (exp. 5.72bln). +8.5% in pre-market trade
• Nvidia (NVDA) has been added to the Top Pick list at Morgan Stanley

GEOPOLITICS

MIDDLE EAST

• Hamas stated that its political bureau chief Haniyeh was killed in Iran by an Israeli air strike on his house in Tehran, while a Hamas official said the assassination is a cowardly act that will not go unpunished, according to Al-Aqsa TV. It was also reported that Iran said it is investigating the assassination of Haniyeh with the results to be published soon, according to Tasnim.
• UN special coordinator for Lebanon said they are deeply concerned about Israel’s strike in a densely populated southern suburb of Beirut which resulted in multiple civilian casualties, while they underscored there is no such thing as a military solution and called for diplomacy to end hostilities.
• Russia said that strikes on Lebanon are a flagrant violation of international law, according to TASS.
• Explosions were reported inside an Iraqi PMF base south of Baghdad causing casualties, according to Reuters sources, while the US later carried out a self-defence strike in Iraq because of a threat to coalition forces, according to an official cited by Reuters
• “Iran’s Supreme Leader: Iran sees as a duty to avenge Haniyeh’s assassination”, according to IRNA. Thereafter, Hezbollah MP Ammar says Israel “demands war, and we are up for it”.
• Sources involved in the Hamas-Israel hostage deal talks suggests “the killing of the Haniyeh will have an impact on the negotiations, since the Haniyeh was a significant figure in the negotiations”, via Kann’s Stein.

OTHER

• Russian Foreign Ministry spokeswoman said any basis for dialogue with US arms control can come only after Washington refuses confrontation with Russia, according to RIA.

CRYPTO

• Bitcoin is a touch softer but is yet to deviate significantly from the unchanged mark, holding around the USD 66k handle which keeps it toward the mid-point of parameters.

APAC TRADE

• APAC stocks gained heading into month-end as participants digested a slew of data releases and the BoJ policy decision.
• ASX 200 was led by strength in energy and tech, while domestic yields were pressured after mostly softer inflation data.
• Nikkei 225 declined heading into the BoJ policy decision after rate hike bets were boosted following several local press reports that the central bank is to consider a 15bps rate increase and although the hike materialised, the Bank’s taper plan was less aggressive than many had called for.
• Hang Seng and Shanghai Comp. gained as participants digested the latest Chinese PMI data in which headline Manufacturing PMI topped forecasts despite remaining in contraction territory, while Non-Manufacturing PMI matched estimates.

NOTABLE ASIA-PAC HEADLINES

• Chinese Vice Finance Minister said will strengthen fiscal policy adjustments and deepen fiscal and tax reforms, while they will steadily implement consumption tax reform in a step-by-step way and standardise the management of local governments’ non-tax revenues. Furthermore, China will step up fiscal policy implementation to promote economic recovery.

DATA RECAP

• Chinese Manufacturing PMI (Jul) 49.4 vs Exp. 49.3 (Prev. 49.5); Non-Manufacturing PMI 50.2 vs Exp. 50.2 (Prev. 50.5)
• Chinese Composite PMI (Jul) 50.2 (Prev. 50.5)
• Australian Weighted CPI YY (Jun) 3.8% vs. Exp. 3.8% (Prev. 4.0%)
• Australian CPI QQ (Q2) 1.0% vs. Exp. 1.0% (Prev. 1.0%); YY 3.8% vs. Exp. 3.8% (Prev. 3.6%)
• Australian RBA Trimmed Mean CPI QQ (Q2) 0.8% vs. Exp. 1.0% (Prev. 1.0%); YY 3.9% vs. Exp. 4.0% (Prev. 4.0%)
• Australian RBA Weighted Median CPI QQ (Q2) 0.8% vs. Exp. 1.0% (Prev. 1.1%); YY 4.1% vs. Exp. 4.3% (Prev. 4.4%)
• New Zealand ANZ Business Outlook (Jul) 27.1% (Prev. 6.1%)
• New Zealand ANZ Own Activity (Jul) 16.3% (Prev. 12.2%)

2C) ASIAN REPORT

BoJ hiked and is to taper monthly bond purchases, FOMC & earnings next – Newsquawk Europe Market Open

WEDNESDAY, JUL 31, 2024 – 01:35 AM

• APAC stocks gained heading into month-end as participants digested a slew of data releases and the BoJ policy decision.
• BoJ hiked rates by 15bps and is to taper monthly bond purchases by JPY 400bln per quarter.
• Chinese manufacturing PMI remained in contractionary territory, core Australian CPI measures came in below expectations.
• European equity futures indicate a mildly higher open with Euro Stoxx 50 future up 0.1% after the cash market finished with gains of 0.5% on Tuesday.
• AUD the laggard post-CPI data and JPY flat vs. the USD after some volatile price action. DXY is a touch softer.
• Looking ahead, highlights include German Trade & Unemployment Rate, French CPI, EZ Flash HICP, US ADP & Chicago PMI, FOMC & BCB Policy Announcements, Fed Chair Powell’s Press Conference, Supply from Germany & US Quarterly Refunding Announcement.
• Earnings from HSBC, Taylor Wimpey, GSK, Lufthansa, Fresenius SE, Siemens Healthineers, Adidas, Schneider Electric, Danone, Safran, Telefonica, BBVA, Telecom Italia, ADP, Boeing, Mastercard, ARM, Meta, Qualcomm & T-Mobile US.

More Newsquawk in 3 steps:

1. Subscribe to the free premarket movers reports

2. Listen to this report in the market open podcast (available on Apple and Spotify)

3. Trial Newsquawk’s premium real-time audio news squawk box for 7 days

US TRADE

EQUITIES

• US stocks finished mixed with price action choppy heading into the upcoming risk events and as selling pressures emerged after JOLTS came in above expectations with the prior revised higher and Consumer Confidence also beat expectations, while markets also reflected on the heightened geopolitical tensions after Israel retaliated to the Golan Heights strike in which it targeted a top Hezbollah commander in a Beirut suburb. As such, the major indices were varied and the Nasdaq underperformed as the tech sector was pressured heading into more of the Magnificent Seven earnings.
• SPX -0.50% at 5,436, NDX -1.40% at 18,796, DJIA +0.50% at 40,743, RUT +0.40% 2,243.
• Click here for a detailed summary.

NOTABLE HEADLINES

• US VP Harris is expected to announce her VP pick as soon as Monday, according to sources cited by Reuters. It was also reported that Harris will hold her first rally with her running mate next Tuesday in Philadelphia, according to Politico.
• US VP Harris wiped out Republican Presidential Candidate Trump’s swing-state lead in the latest election poll, according to Bloomberg. Furthermore, the poll showed Harris gained ground versus Trump in each of the seven swing states since Biden dropped out of the race.
• Microsoft Corp (MSFT) Q4 2024 (USD): EPS 2.95 (exp. 2.93), Revenue 64.73bln (exp. 64.39bln), Intelligent Cloud rev. 28.52bln (exp. 28.72bln). Co. shares were lower by 2.7% after-hours
• Advanced Micro Devices Inc (AMD) Q2 2024 (USD): Adj. EPS 0.69 (exp. 0.68), Revenue 5.84bln (exp. 5.72bln). Co. shares were higher by +7.6% after-hours

APAC TRADE

BOJ

• BoJ raised its short-term interest rate by 15bps to 0.25% and announced a change in bond purchases in which it will no longer provide a range but will instead specify amounts, while the BoJ is to reduce scheduled monthly bond buying by around JPY 400bln each quarter and with bond purchases to be JPY 3tln a month as of Q1 2026. BoJ said the decision on rates was made by a 7-2 vote with Nakamura and Noguchi the dissenters, while the decision on bond buying made unanimously. Furthermore, it stated that it may modify the bond-taper plan upon mid-term view as appropriate, if deemed necessary for functioning of JGB market, and at the June 2025 meeting, the BoJ will discuss the guideline for its JGB buying from April 2026 and announce results.

EQUITIES

• APAC stocks gained heading into month-end as participants digested a slew of data releases and the BoJ policy decision.
• ASX 200 was led by strength in energy and tech, while domestic yields were pressured after mostly softer inflation data.
• Nikkei 225 declined heading into the BoJ policy decision after rate hike bets were boosted following several local press reports that the central bank is to consider a 15bps rate increase and although the hike materialised, the Bank’s taper plan was less aggressive than many had called for.
• Hang Seng and Shanghai Comp. gained as participants digested the latest Chinese PMI data in which headline Manufacturing PMI topped forecasts despite remaining in contraction territory, while Non-Manufacturing PMI matched estimates.
• US equity futures (ES +0.4%, NQ +0.9%) gradually rebounded from the initial pressure seen following mixed earnings results.
• European equity futures indicate a mildly higher open with Euro Stoxx 50 future up 0.1% after the cash market finished with gains of 0.5% on Tuesday.

FX

• DXY traded rangebound amid mixed performances in its major peers and as the attention now turns to the FOMC.
• EUR/USD eked marginal gains following yesterday’s rebound from support at the 1.0800 level.
• GBP/USD was uneventful after its recent choppy performance ahead of Thursday’s BoE meeting.
• USD/JPY saw volatile trade following the BoJ announcement to hike rates by 15bps and taper monthly bond purchases by JPY 400bln per quarter.
• Antipodeans were mixed with AUD/USD pressured after the latest inflation data in which the headline figures matched estimates but the subcomponents of the releases, including the RBA’s preferred trimmed-mean CPI, printed softer-than-expected which reduces the prospects of a hike next week.
• PBoC set USD/CNY mid-point at 7.1346 vs exp. 7.2419 (prev. 7.1364).

FIXED INCOME

• 10-year UST futures traded little changed and took a breather following recent bull steepening and as participants await the FOMC and QRA.
• Bund futures held on to recent gains after mixed data releases and with German jobs data also due later.
• 10-year JGB futures were heavily pressured amid heading to the BoJ announcement amid increased rate hike bets after several Japanese press reports noted the central bank is to consider a 15bps hike during today’s meeting, while the rate increase eventually materialised although the taper announced was less aggressive than some were calling for with a reduction of JPY 400bln each quarter.

COMMODITIES

• Crude futures gradually edged higher after bullish private inventory data and heightened geopolitical tensions after Israel conducted an air strike which killed Hamas chief Haniyeh in Tehran.
• US Private Inventory (bbls): Crude -4.5mln (exp. -1.1mln), Distillate -0.3mln (exp. -1.2mln), Gasoline -1.9mln (exp. -1mln), Cushing -0.9mln.
• US reportedly mulls fresh sanctions on Venezuela if President Maduro fails to comply with Washington’s demands for greater transparency on the vote count, according to Reuters citing sources, while sanction options include individual sanctions or US travel bans on Venezuelan officials and measures could later escalate to other types of sanctions if deemed necessary.
• Spot gold mildly continued on advances following its recent return to above USD 2,400/oz ahead of major central bank decisions.
• Copper futures extended on the prior day’s rebound with upside facilitated by better-than-expected Chinese Manufacturing PMI data.

CRYPTO

• Bitcoin traded indecisively and just about retained the USD 66,000 status.

NOTABLE ASIA-PAC HEADLINES

• Chinese Vice Finance Minister said will strengthen fiscal policy adjustments and deepen fiscal and tax reforms, while they will steadily implement consumption tax reform in a step-by-step way and standardise the management of local governments’ non-tax revenues. Furthermore, China will step up fiscal policy implementation to promote economic recovery.
• A notice was sent to US House staff announcing that in two weeks all ByteDance products including TikTok will be banned from House-managed devices and app stores, according to Punchbowl’s Cohen.

DATA RECAP

• Chinese Manufacturing PMI (Jul) 49.4 vs Exp. 49.3 (Prev. 49.5)
• Chinese Non-Manufacturing PMI (Jul) 50.2 vs Exp. 50.2 (Prev. 50.5)
• Chinese Composite PMI (Jul) 50.2 (Prev. 50.5)
• Australian Weighted CPI YY (Jun) 3.8% vs. Exp. 3.8% (Prev. 4.0%)
• Australian CPI QQ (Q2) 1.0% vs. Exp. 1.0% (Prev. 1.0%)
• Australian CPI YY (Q2) 3.8% vs. Exp. 3.8% (Prev. 3.6%)
• Australian RBA Trimmed Mean CPI QQ (Q2) 0.8% vs. Exp. 1.0% (Prev. 1.0%)
• Australian RBA Trimmed Mean CPI YY (Q2) 3.9% vs. Exp. 4.0% (Prev. 4.0%)
• Australian RBA Weighted Median CPI QQ (Q2) 0.8% vs. Exp. 1.0% (Prev. 1.1%)
• Australian RBA Weighted Median CPI YY (Q2) 4.1% vs. Exp. 4.3% (Prev. 4.4%)
• New Zealand ANZ Business Outlook (Jul) 27.1% (Prev. 6.1%)
• New Zealand ANZ Own Activity (Jul) 16.3% (Prev. 12.2%)

GEOPOLITICAL

MIDDLE EAST

• Hamas stated that its political bureau chief Haniyeh was killed in Iran by an Israeli air strike on his house in Tehran, while a Hamas official said the assassination is a cowardly act that will not go unpunished, according to Al-Aqsa TV. It was also reported that Iran said it is investigating the assassination of Haniyeh with the results to be published soon, according to Tasnim.
• Israeli military carried out a strike in Beirut in retaliation for the attack on Golan Heights and targeted the commander responsible for the attack.
• Israeli official said they estimate the target of the Beirut suburb attack has been eliminated and confirmation takes time, according to Al Arabiya. Israel’s military also said Hezbollah senior commander Faud Shukr was killed in the Israeli strike, while it added that he was Hezbollah Secretary-General Nasrallah’s ‘right-hand man’ and the most senior military commander, although two security sources cited by Reuters claimed the top Hezbollah commander had survived.
• Lebanon’s Foreign Minister said Lebanon condemned the Israeli strike and plans to file a complaint to the United Nations, while the official hopes for a proportionate response by Hezbollah ‘so that this wave of killing will stop’.
• UN special coordinator for Lebanon said they are deeply concerned about Israel’s strike in a densely populated southern suburb of Beirut which resulted in multiple civilian casualties, while they underscored there is no such thing as a military solution and called for diplomacy to end hostilities.
• Lebanese army reportedly deployed at the attack site in the southern Beirut suburb, according to Al Arabiya.
• Hamas strongly condemned the attack on Lebanon’s southern suburb and called it a “dangerous escalation”.
• Iran strongly condemned “sinful and cowardly” Israeli aggression that targeted the southern Beirut suburb, according to Iran’s Embassy in Lebanon.
• Russia said that strikes on Lebanon are a flagrant violation of international law, according to TASS.
• Israeli office said they are not looking to start a regional war, according to N12 TV.
• White House said the US does not believe war between Hezbollah and Israel is inevitable.
• US warships are reportedly on their way to the Lebanese coast, according to Sky News Arabia citing Israel’s Channel 13.
• Explosions were reported inside an Iraqi PMF base south of Baghdad causing casualties, according to Reuters sources, while the US later carried out a self-defence strike in Iraq because of a threat to coalition forces, according to an official cited by Reuters

OTHER

• Russian Foreign Ministry spokeswoman said any basis for dialogue with US arms control can come only after Washington refuses confrontation with Russia, according to RIA.
• END

2D JAPAN

“They Are Changing The Rules”: BOJ Shocks By Hiking Into Weakening Economy To Contain Crashing Yen

WEDNESDAY, JUL 31, 2024 – 10:10 AM

The Bank of Japan has lifted its benchmark interest rate to 0.25% and outlined plans to halve its monthly bond purchases in a decisive, if doomed, move to normalize its monetary policy.

With the Fed and all other central banks either set to move, or already moving rapidly in the opposite direction, the always confused BoJ’s shift to tighter policy will narrow an interest rate gap that has driven record weakness in the yen, marking a big shift for global currency markets. It also comes at a time when Japan’s economy is once again slowing, inflation is failing to take hold, wage growth is sputtering…. which is also why this will be the shortest tightening cycle since its last failed attempt to raise rates off the zero lower bound.

The Japanese currency strengthened more than 1% following the decision on Wednesday, sending the USDJPY below 150 against the dollar.

By a majority of 7-2, the BoJ raised its overnight interest rate to “around 0.25 per cent”, the highest level since the global financial crisis in late 2008, from a previous range of 0 to 0.1%. The bank in March ended its negative interest rate policy following decades of on-and-off deflation.

The BoJ also said it would scale back its ¥6tn ($39bn) monthly bond-buying program to about ¥3tn by the spring of 2026, however, it would do so at a much slower pace than many had expected. Specifically, the BOJ said it would cut monthly bond purchases by ¥400 billion every quarter to decrease them to ¥2.9 trillion in 1Q 2026; the market was foreseeing 1 trillion yen per month starting August.

“It’s a hawkish development with the BOJ rate hike, but reduced to some extent by the less-than-expected amount of quantitative tightening,” said Alvin Tan of RBC Capital Markets. “In short, the BOJ decision today does not significantly exceed the hawkish market expectations baked into the meeting.”

Others agreed, Nick Twidale, chief market analyst at ATFX markets said the BOJ’s QE taper was “much less than expected and that has hit the yen hard… We’re seeing gapping in a fast moving market, and given the positioning overnight we could see more in the hours ahead.”

Today’s rate hike came after senior government officials made unusually blunt comments in recent weeks, putting pressure on the BoJ to unwind its ultra-loose monetary policy and arrest the yen’s decline.

At a news conference on Wednesday, central bank governor Kazuo Ueda said the rate decision was made because economic conditions and price movements remained “on track”. But he acknowledged that upside risks to inflation posed by the weaker yen were also a factor.

“We plan to continue raising our policy rate and adjust the degree of monetary accommodation” if economic conditions and inflation move in line with its forecast, Ueda added.

Ahead of the policy decision, traders were evenly split on the prospect of the BoJ lifting short-term interest rates, with some economists cautioning against a move following a string of weak economic data. Core inflation, which excludes volatile food prices, rose 2.6 per cent from a year earlier in June, exceeding the BoJ’s 2 per cent target for 27 consecutive months. However, Japan’s economy contracted in the first three months of the year as the yen’s decline and rising living costs hurt household spending.

“It’s extremely disappointing that the BoJ has chosen to act by ignoring weak economic data. It now looks like it moved to counter the weak yen,” said UBS economist Masamichi Adachi. “The normalisation of Japan’s economy was very precarious to begin with, but the BoJ has made it even more difficult.”

Adachi is spot on, because by caving to government pressure to ease the pressure on the crashing yen – a function of the BOJ’s own previous actions – the central bank has only made the next crisis that much worse, which in addition to a brutal stagflationary recession, will also see a bond market crisis, forcing the BOJ to unwind all of its recent actions and then some.

In its forecast, the BOJ said it expected consumer price inflation of 2.1%  for the year ended March 2026, instead of the 1.9% it forecast in April. Of course by then the world will be drowning in delfation and Japan will be back to using good old NIRP.

Stefan Angrick, a senior economist at Moody’s Analytics, pointed to the BoJ’s new emphasis on the yen’s inflationary impact but added that the central bank was still “hiking into a weak economy” in the absence of demand-driven inflation.

“I think the BoJ needs to be clear about the fact that they’re changing the rules. They’re not winning the game,” Angrick said. He forecast the next rate increase would be in December, noting that yen pressure on the BoJ was likely to wane once the Fed started cutting rates.

Growing expectations of the BoJ’s rate rise had already boosted the yen against the dollar in the run-up to Wednesday’s meeting. The reversal was aided by government purchases of ¥5.5tn of its own currency earlier this month. The market intervention had the effect of squeezing a substantial volume of short yen positions out of the market, traders said, tamping down the so-called carry trade.

But hedge funds are likely to still have significant short positions in the Japanese currency, so the combination of the BoJ move and a dovish tone by the Fed later on Wednesday could provoke another sharp move higher for the yen, even if it is the last one for a long time.

Yujiro Goto, Nomura’s chief foreign exchange strategist, said the yen’s upward momentum could also be accelerated if Japanese retail investors decide to unwind their large bets on US equities and convert dollar profits back into yen. And judging by the collapse in the USDJPY in recent weeks, that’s precisely what is taking place.

And yes, for those who note that it is amusing that it is somehow viewed as hawkish that a 0.15% increase in rates even as the BOJ continues its QE almost full bore (down ¥400 billion from ¥6 trillion), we agree: it is amusing.

3 CHINA

CHINA/

end

4.EUROPEAN AFFAIRS//UK /SCANDINAVIAN AFFAIRS

ENGLAND

Activist Tommy Robinson, who is totally against migrants coming to England was arrested under terror provisions.

Activist Tommy Robinson Arrested Under Terror Provisions After Massive Rally Of British Patriots

WEDNESDAY, JUL 31, 2024 – 02:45 AM

British patriot activist Tommy Robinson is in trouble again for speaking his mind, and the details are rather strange.  Robinson (real name Stephen Yaxley-Lennon) was arrested on Sunday at the Eurotunnel terminal in Folkestone by police who used counter-terrorism powers, but was released on unconditional bail.  

A judge issued the warrant at the high court for the arrest of Robinson but ordered that it not be carried out until early October to allow the activist time to indicate that he would attend the next hearing voluntarily, or to apply to “set aside” the warrant.  Robinson was also due to appear at the court on Monday after he was accused of contempt for making a documentary; ironically the film is called ‘Silenced’. 

The activist chose to escape the country instead and is now reportedly in Europe. Robinson’s arrest was initiated only one day after he attended a massive British patriot march in London against open borders.  Marchers called for an end to open borders while flying flags emblazoned with the St. George Cross, a centuries-old standard which leftist officials and activists claim is a “symbol of racism.”

Robinson is best known for his opposition to mass immigration and open border policies in the UK, allowing third world migrants from Islamic countries to flood the nation and overwhelm the indigenous British culture.  The UK government has been rabidly pro-migrant for over a decade and has attempted on numerous occasions to censor and intimidate British citizens who speak out against open border policies.  Around 40% of London’s population is now made up of migrants, the majority of them with Islamic backgrounds.

Pro-Islam, pro-migrant and pro-Palestine rallies have become constant fixtures in the UK.  The events are regularly painted in a positive light by the media despite violence and mass arrests.  Meanwhile, the slander of British patriot marches is widely accepted.

Public anger has grown over the migrant situation despite the government’s best efforts to suppress information and speech.  UK stats deliberately remove references to a criminal’s migrant status and the media often refuses to report on the origins of perpetrators behind violent crimes, grooming gangs and human trafficking.  Robinson described the problem in a recent interview with Jordan Peterson.

In 2021 Robinson was sued for defamation after arguing online that a viral video of a Syrian student being bullied by white students was a misrepresentation of events and that the Syrian student had been known for abusing others, including female classmates. 

Robinson was taken to court, fined for his claims and ordered to no longer speak on the incident or the student in public again.  Robinson’s documentary ‘Silenced’ includes evidence that the video of the Syrian student was part of an organized propaganda campaign planned for 6 months before the video was ever released online.  The documentary is held up as the catalyst for contempt of court charges that led to Robinson’s arrest after he screened it at the patriot rally last week.  The use of anti-terror protocols has not yet been explained by law enforcement.  

end

ENGLAND

Three children dead after a knife attack in Southport England

Third Child Dies After Knife Attack in Southport England, Fed Up Citizens Take to the Streets

By Margaret Flavin Jul. 30, 2024 7:20 pm

On Monday,  a knife attack in Southport in the northwest of England left three young children dead, five others are in critical condition, and two adults were also hurt.

The murdered children have now been named by Merseyside Police as nine-year-old Alice Dasilva Aguiar, six-year-old Bebe King, and seven-year-old Elsie Dot Stancombe.

According to AP, a witness described seeing bloodied children running from a community center where a Taylor Swift-themed dance and yoga event for children aged about 6 to 11 was taking place.

Emergency services responded to the scene, and police reported that they had detained a 17-year-old male suspect and seized the weapon. UK law prevents the release of details on the suspect because he is under 18.

Yoga instructor Leanne Lucas risked her own life to help save children at the risk of her own life.  Lucas is in the hospital in critical condition.

Jonathan Hayes was also injured trying to protect the children, and Joel Verite tackled the suspect and helped the victims.

Southport residents gathered for a vigil, and after reports of a man found with a balaclava and a knife by police, the scene turned chaotic.

BREAKING: A man ‘wearing a balaclava’ and carrying a knife has been arrested in Southport this evening – just yards from a vigil for the children killed in yesterday’s attack. pic.twitter.com/2DCKGeNhTV

— GB News (@GBNEWS) July 30, 2024

Although authorities are desperately trying to downplay the deadly incident, Southport residents are livid.

Watch:

THE POLICE ARE GETTING ABSOLUTELY SMASHED IN SOUTHPORT

This is what happens when innocent children are butchered! pic.twitter.com/FCwzaZDrxx

— James Goddard (@JamesPGoddard90) July 30, 2024

People asking, “Why are the protestors in Southport targeting a Mosque”?

During the vigil for the three murdered girls, police arrested a man of Arab appearance, reportedly with a knife, in Southport town centre, on his way to attack the vigil

Was this an Islamic terrorist?… pic.twitter.com/R7BTt2MdEi

— Connor Tomlinson (@Con_Tomlinson) July 30, 2024

Globalist British Prime Minister Keir Starmer attended the vigil and was heckled by the crowd as one heartbroken citizen asked, “Are my children, next Prime Minister?”

https://youtube.com/watch?v=JdWdNrhPhdY%3Fsi%3DiubZpcRHUlEVtfi-

FRANCE

5/RUSSIAN AND MIDDLE EASTERN AFFAIRS

/ISRAEL/HAMAS

ATTACK ON HANIYEH IN IRAN: Hamas leader Haniyeh assassinated in Iran by an Israeli strike

(zerohedge)

Hamas Leader Haniyeh Assassinated In Iran By Israeli Strike

BY TYLER DURDEN

TUESDAY, JUL 30, 2024 – 05:15 PM

Update (2310ET): Iran’s Revolutionary Guards Corps has confirmed the death of Ismail Haniyeh, the top political leader of Hamas, during an inauguration event for Iran’s new president. Haniyeh, who is based in Qatar, and an Iranian security guard were reportedly killed at their place of residence.

IRGC: Head of Hamas political bureau Ismail Haniyeh martyred in Tehran. #Hamas #Iran

10:45 PM · Jul 30, 2024

·

834.1K Views

🔴 IRGC: Head of Hamas political bureau Ismail Haniyeh martyred in Tehran.#Hamas #Iran pic.twitter.com/HDQwlh3Xzv

— Press TV 🔻 (@PressTV) July 31, 2024

Israel had vowed to kill Hamas leaders soon after the group’s incursion on Oct. 7.

The attack follows a strike by Israel on Beirut on Tuesday that targeted senior Hezbollah commander Fuad Shukr. Shukr, reportedly the mastermind behind a recent attack that killed 12 children in the Golan Heights, is believed to have died in the strike. The Lebanese health ministry reported that the strike killed three civilians, including two children, and injured 74 others.

The death of the Hamas leader took place just hours after a significant portion of Israeli airspace was closed for unexplained reasons.

NOTAMs have been issued in Israel, resulting in the closure of a significant portion of Israeli airspace. The NOTAMs were reportedly issued after a situational assessment.

9:10 PM · Jul 30, 2024

·

98.4K Views

NOTAMs have been issued in Israel, resulting in the closure of a significant portion of Israeli airspace.

The NOTAMs were reportedly issued after a situational assessment. pic.twitter.com/FJjk3Xf5aj

— Global: Military-Info (@Global_Mil_Info) July 31, 2024

Israel’s Prime Minister Benjamin Netanyahu had vowed a stern response to the Golan Heights strike, which Hezbollah denied responsibility for. Lebanon’s current prime minister condemned the airstrike and plans to file a complaint with the U.N. Security Council.In Tehran, during the inauguration of President Masoud Pezeshkian, senior figures from groups within Iran’s “axis of resistance,” including Haniyeh, were present.

Hamas leader Ismail Haniyeh is killed with one of his bodyguards in Tehran. pic.twitter.com/widFinIbnF

— ZaidBenjamin زيد بنيامين (@ZaidBenjamin5) July 31, 2024

Shortly after his speech asserting support for Palestinians, news of Haniyeh’s assassination broke. Immediately after the news of Haniyeh’s death broke, multiple reports emerged that Hamas vengeance would be swift. Member of the Hamas Political Bureau, Musa Abu Marzouk said that the assassination of Haniyeh is a cowardly act and will not be in vain.

The price of oil rose after the report hitting a session high.

THE ATTACK IN LEBANON:

Update(1715ET): The Lebanese government has condemned the “blatant act of aggression” following the Israeli airstrikes on southern Beirut. While some reports have claimed US warships are moving closer to Lebanon in the wake of the crisis, the reality is that American warships and military assets were already in the eastern Mediterranean region.

Lebanon’s National News Agency (NNA) has reported that a female civilian was killed after a building was destroyed in Haret Hreik, in Beirut’s sout. “Sixty-eight civilians were injured, five of whom were critically injured, while the rest suffered moderate to minor injuries. Most of them were treated in emergency departments and were discharged from hospitals,” NNA said. 

Currently there are contrasting reports over whether or not Israel took out its target – Fuad Shukr, said to be a commander that oversaw the deadly weekend Hezbollah rocket salvo that left 12 dead in a Golan town.

Israel’s anticipated big ‘retaliation’ has begun, apparently, after major airstrikes were felt in the Lebanese capital of Beirut. Large smoke clouds were seen above a suburb in southern neighborhoods, sparking momentary panic and a large emergency response amid reported casualties.

An Israeli military statement quickly owned up to the attack: “The IDF targeted in Beirut the commander responsible for the murder of the children in Majdal Shams and killed many Israeli civilians,” a translated statement said.

The destruction is large in scale, and took place at around 8pm local time in the Haret Hreik neighborhood, still within daylight hours just before nightfall.

Earlier, a weekend missile attack from Lebanon (widely blamed on Hezbollah) killed 12 young people playing on a soccer field in the occupied Golan town of Majdal Shams.

Foreign Minister Katz told a state broadcaster over the weekend, “There is no doubt that Hezbollah crossed all red lines.” And soon after that, the country’s war cabinet authorized the military to retaliate.

Israeli Defense Minister Yoav Gallant has announced just after the Tuesday Beirut strikes, “Hezbollah crossed the Red Line.”

Harrowing footage of the strike aftermath points to large-scale casualties given it is a densely-packed civilian area…

Given already there have long been fears of ‘all-out’ war in Lebanon, oil jumped on news of the attack.

Israel is quickly signaling that this was a ‘limited’ attack and that it doesn’t seek full war in Lebanon. “At the moment, there are no changes in the Home Front Command defensive guidelines,” the IDF said.

Bloomberg’s live blog has cited Rosalind Mathieson, the outlet’s news director for Europe, the Middle East and Africa, who comments:

There are signs Israel was aiming for an action that sent a message without triggering a full blown war with Hezbollah in Lebanon. Netanyahu has also been opening the door to fresh talks for a cease-fire with Hamas on Gaza – and that wouldn’t be possible if Israel is engaged in a ground conflict with Hezbollah.

Several Israeli news outlets reported earlier this week that the government was seeking a “limited but significant” action that sends a strong message to Hezbollah but ensures the situation doesn’t spiral out of control.

Many regional analysts believe that a broader war in Lebanon will draw in Iran-backed groups and actors across the region, eventually leading to an open war between Tehran and Tel Aviv. Hezbollah sources are meanwhile denying that Israel killed the senior commander that was targeted on Tuesday.

TOP HEZBOLLAH COMMANDER TARGETED IN ISRAELI STRIKE ON BEIRUT SUBURBS HAS SURVIVED, TWO SECURITY SOURCES TELL REUTERS

developing…

END

Body of Hezbollah’s Fuad Shukr found under rubble of Beirut blast – report

The IDF said the targeted assassination of Hezbollah’s most senior commander was retaliation for the deadly attack on Majdal Shams.

By REUTERSJULY 31, 2024 16:34Updated: JULY 31, 2024 17:41

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-812742&unitId=2900003088&userId=0825748c-83eb-4fa6-9d99-5d5781551d74&isLegacyBrowser=false&isPartitioningSupport=1&version=20240729_d9b1c4b4e389e89c58ca0ce87732d8e97203a069&useBunnyCDN=0&themeId=140&unitType=tts-player

The body of Hezbollah senior military commander Fuad Shukr may have been found under the rubble of the building that was targeted in Beirut, Lebanon, on Tuesday, the daily Lebanese newspaper An-Nahar reported on Wednesday.

Lebanon’s Hezbollah said early on Wednesday its senior commander was in the building in the southern suburbs of Beirut targeted by an Israeli strike.

The IDF announced late on Tuesday it had killed Shukr, whom it named as Hezbollah’s most senior commander and blamed for an attack at the weekend that left a dozen youths dead in the Golan Heights.

Halevi in North: ‘We also know how to maneuver strongly’

IDF Chief of Staff Herzi Halevi visited a military exercise in the North on Wednesday and spoke of Israel’s maneuvering capabilities. 

“The IDF knows how to operate and reach a certain window in a neighborhood in Beirut; it also knows how to attack at a certain point in the underground, and we also know how to maneuver inside very strongly,” he said.

“We have confidence in our plans to move forward because our intention with Hezbollah is not to return to October 6,” Halevi added.

Jerusalem Post Staff contributed to this report.

SAME STORY AS ABOVE; JERUSALEM POST

Hamas leader Ismail Haniyeh assassinated in Tehran

Palestinian terror group Hamas claimed Haniyeh was killed in “a treacherous Zionist raid on his residence” in the Iranian capital.

By DANIELLE GREYMAN-KENNARD, REUTERSJULY 31, 2024 06:04Updated: JULY 31, 2024 13:13

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fbreaking-news%2Farticle-812649&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240729_d9b1c4b4e389e89c58ca0ce87732d8e97203a069&useBunnyCDN=0&themeId=140&unitType=tts-player

Hamas leader Ismail Haniyeh was killed in Iran, Hamas claimed on Wednesday morning, while claiming Israel was behind the attack.

In a statement, the Islamist terror group said they mourned the death of Haniyeh, who they claimed was killed in “a treacherous Zionist raid on his residence in Tehran.”

Haniyeh, along with one of his guards, was reportedly killed at his Tehran residence, according to an IRGC statement, and Saudi Arabia’s Al-Arabiya reported that he was killed at approximately 2:00 a.m. Wednesday morning.

“With condolences to the heroic nation of Palestine and the Islamic nation and the combatants of the Resistance Front and the noble nation of Iran, this morning [Wednesday], the residence of Mr. Dr. Ismail Haniyeh, the head of the political office of the Islamic Resistance of Hamas, was hit in Tehran, and following this incident, he and one of his bodyguards were martyred,” the IRGC statement read. “Early this morning, the residence of Ismail Haniyeh in Tehran was struck, resulting in his and one of his body guards’ martyrdom. The cause is under investigation and will be announced soon.”

Hezbollah-affiliated news site Al Mayadeen claimed that Israel eliminated him. 

As of now, no one in Israel has commented on the reports. Musa Abu Marzouk, a senior member of Hamas’s political bureau, warned that the elimination of the Haniyeh “will not pass in silence.”

Who is Ismail Haniyeh?

Haniyeh is the political leader of the Hamas terror organization. He was visiting Iran for the swearing-in of the new Iranian President Masoud Pezeshkian.

Three of Haniyeh’s sons were killed in an airstrike in April. His sister was also eliminated last month.

The Gaza-based residence of Haniyeh, which was used as terrorist infrastructure, was hit by an IDF airstrike in November. Haniyeh usually resides in Qatar, but his property was being used as a meeting place for other members of Hamas leadership.

Reactions to Haniyeh’s death

Heritage Minister Amichay Eliyahu wrote on X in response to the news “This is the right way to clean the world from this filth. No more imaginary “peace”/surrender agreements, no more mercy for these mortals.

“The iron hand that will strike them, is the one that will bring peace and a little comfort and strengthen our ability to live in peace with those who desire peace.

“Haniyeh’s death makes the world a little better.”

Walla contributed to this report.

END

Ayatollah Says ‘Severe’ Revenge Coming For Israel Killing Hamas Leader On Iranian Soil

WEDNESDAY, JUL 31, 2024 – 09:25 AM

The world just woke up to a new Middle East on Wednesday which stands on the precipice of major war between Iran and its proxies and Israel, following the overnight Israeli assassination of Ismail Haniyeh, the top political leader of Hamas, during an inauguration event for Iran’s new president. Haniyeh, who is based in Qatar, and an Iranian security guard were killed reportedly while in the Iranian capital. Hamas has since condemned the “treacherous Zionist raid on his residence in Tehran.”

Iran is vowing “severe” punishment, with the Islamic Republic’s Supreme Leader, Ayatollah Khamenei, announcing in English and Farsi on X, “The criminal, terrorist Zionist regime martyred our dear guest in our territory and has caused our grief, but it has also prepared the ground for a severe punishment.”

And Iran’s newly sworn-in president Masoud Pezeshkian in a statement cited in state media said the country will “defend its territorial integrity, dignity, honor, and pride, and will make the terrorist occupiers regret their cowardly act.”

Taking out Haniyeh was the second high-profile assassination attributed by Israel in a matter of hours, following the Tuesday airstrike in Beirut that killed Hezbollah’s top military leader and right-hand man to Secretary-General Hassan Nasrallah, Fuad Shukr. 

That attack was massive and on a neighborhood and buildings in the south of the capital, with Lebanon’s Health Ministry saying three people, including two children, have been killed, with at least 74 wounded. Emergency workers are still searching under the rubble, and thus the civilian death toll is likely to rise further.

And now there are emerging reports of another Israeli air raid – this time on Syria’s capital of Damascus (unconfirmed) – with likely casualties. A large cloud of smoke was seen rising over the Damascus suburb of Sayyidah Zaynab at around 3pm local time. It is an area which sees a constant influx of Iranian religious pilgrims, and Israel has bombed it frequently, saying each time it is targeting Iranian military assets and proxies.

Adding to this volatile mix, the US military also overnight launched its first military action in Iraq in months, reportedly striking militia combatants who attempted to launch a drone attack. The Pentagon is calling the new military action a defensive airstrike.

The US State Department and US administration have reportedly expressed confusion at the rapid series of Israeli actions in the last hours…

https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2Zvb

⚡️View from the destruction in Haret Hreik, Lebanon

Zionist terrorists bombed this civilian building which led to the martyrdom of 2 children and one woman. pic.twitter.com/QT29bGH6ws

— War Monitor (@WarMonitors) July 31, 2024

Iraq’s pro-Iran Popular Mobilization Authority confirmed casualties, saying, “Forces affiliated with the 47th Brigade… were exposed to an explosion of unknown nature, which resulted in the martyrdom of a number of people and the injury of others.”

So in the last 24 hours there has been military action by Israel or the US in Gaza, Lebanon, Syria, Iran, and Iraq. US Defense Secretary Lloyd Austin on Wednesday spoke with Israeli Defense Minister Yoav Gallant regarding “the threats to Israel posed by a range of Iranian-backed terrorist groups, including Lebanese Hezbollah,” according to a readout.

Still there is no official comment from Israel over the Haniyeh killing, but Prime Minister Benjamin Netanyahu has convene his security cabinet as regional threats of revenge mount over the high profile assassinations. An Israeli government spokesman has said, “We are on extremely high alert for Iranian retaliation.”

Without doubt, this throws the prospect of any hostage negotiations in total disarray and the temperature of conversations within the White House and State Department are likely high. Secretary Blinken has said “We were not aware of or involved in the attack on Haniyeh.” Times of Israel correspondents have said ordinary Palestinians are exhausted from war and exasperated: 

War-weary Palestinians in Gaza mourn the killing of Hamas leader Ismail Haniyeh. Some say it will complicate efforts to reach a ceasefire deal with Israel.

“This man could have signed the prisoner exchange deal with the Israelis,” says Saleh al-Shannar, who was displaced from his home in northern Gaza. “Why did they kill him? They killed peace, not Ismail Haniyeh.”

Meanwhile, Russia has condemned the Israeli killing of the Hamas leader, saying “dangerous” consequences are likely:

@WarMonitors

Subscribe

Russian Foreign Ministry: Those behind the assassination of Hamas leader were aware of the dangerous consequences this would have for the region — Reuters

4:08 AM · Jul 31, 2024

·

109.6K Views

⚡Russian Foreign Ministry: Those behind the assassination of Hamas leader were aware of the dangerous consequences this would have for the region — Reuters

— War Monitor (@WarMonitors) July 31, 2024

Many observers already concluded long ago that Netanyahu doesn’t actually want a quick resolution to the Gaza war, but is indeed intent on fighting until Hamas is eradicated, even if that puts the remaining hostages in jeopardy. This has been the constant criticism of his domestic political rivals and the hostage victims’ families. All that Washington officials have said so far is statements saying they are ‘very concerned’ at these developments. Middle East analyst Rami Khouri has expressed the feeling of many Arab leaders in the region, saying that the latest assassination shows that Israel is “a runaway killing machine.”

end

ISRAEL///HEZBOLLAH//LEBANON/Fuad Shukr

No. 2 assassinated;

Who is Fuad Shukr, the target of the IDF strike in Beirut?

Shukr was the Chief of Hezbollah’s military wing and regarded as “number 2” in the terror group’s echelon.

By JERUSALEM POST STAFFJULY 30, 2024 22:37

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fmiddle-east%2Farticle-812604&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240729_d9b1c4b4e389e89c58ca0ce87732d8e97203a069&useBunnyCDN=0&themeId=140&unitType=tts-player

The IDF targeted Hezbollah official Fuad Shukr in a strike on Beirut in Lebanon on Tuesday, also known as Hajj Mohsin.  

The military said it had targeted the commander responsible for the Hezbollah rocket attack that killed 12 children in Majdal Shams on Saturday. 

Shukr, who was a member of Hezbollah for some 30 years, was the Chief of the terror group’s military wing and regarded as “number 2” in its echelon, Israeli media reported. 

 Shukr also served as senior military advisor to Hezbollah’s leader Hassan Nasrallah.  

A $5 million reward 

According to the US Rewards for Justice, the US provided a $5 million reward for information regarding Shukr.

He was involved, among other operations, in the bombing of the US Marine Corps barracks in Beirut on October 23, 1983. Some 241 US military personnel were killed in the attack, and 128 others were wounded.

In addition to positioning a bounty on his head, the US also sanctioned Shukr. On September 10, 2019, The US State Department labeled him as a “Specially Designated Global Terrorist” under “Executive Order 13224,” which allows the US to prevent the funding of terrorists. 

On July 21, 2015, Shukr was also sanctioned under “Executive Order 13582,” which allows the US to bar property or interests in such. 

Gadi Zaig contributed to this report. 

end

A ‘Watershed Event’: Five Takeaways From Israel’s Assassination Of Hamas’ Political Leader In Tehran

WEDNESDAY, JUL 31, 2024 – 08:35 AM

Authored by Andrew Korybko via substack,

Hamas’ political leader Ismail Haniyeh was assassinated by Israel early Wednesday morning in the heart of the Iranian capital hours after attending President Masoud Pezeshkian’s inauguration. The details remain unclear, but it’s widely thought that he was killed by a precision drone strike at his residence. The world is watching to see whether Iran and/or its Resistance Axis allies will respond, what form it could take if so, and whether that would escalate tensions to a wider war.

Here are five takeaways thus far:

1. Israel’s Intelligence & Tactics Are Top-Notch

Israel somehow or another obtained accurate intelligence about Haniyeh’s location despite it being top-secret and was then able to successfully assassinate him. Whatever air defenses (including electronic warfare ones) that Iran had deployed in its capital as part of the security measures to protect its high-profile guests failed to thwart this attack. This is a major embarrassment for the Islamic Republic and prompts speculation about whether it was due to utter incompetence or was partially an inside job.

2. Iran Is Caught In A Dilemma Over How To Respond

It’s unimaginable that Iran won’t respond to its Israeli enemy assassinating a high-profile allied guest in Tehran during the new president’s inauguration, but the dilemma is over the form that this response will take. Launching another drone and missile salvo against Israel like it did in the spring after the bombing of its consulate in Damascus is possible, though Israel could spin that as a failure if many of them are shot down like last time, the on-the-ground damage is minimal, and no high-profile targets are killed.

3. Mutually Assured Destruction Hangs Heavy Over Everyone’s Head

The response that Iran resorts to will be determined by its leadership’s understanding of how far they can go without triggering the “mutually assured destruction” (MAD) scenario, which both Israel and the Resistance Axis fear and is why they’ve thus far restrained themselves from waging all-out war. A repeat of spring’s salvo could remain below that threshold, but Iran might also respond in a different way that’s interpreted by Israel as an escalation, thus prompting its own escalation that could then lead to MAD.

4.  A Choreographed Response Might Therefore Be The Most “Rational”…

Duma member Dmitry Belik, whose claim to fame was helping Sevastopol reunify with Russia when he briefly served as the region’s acting head in spring 2014, described spring’s salvo as a “beautiful theatrical production”. If there’s any truth to his innuendo that Iran choreographed its response with the US and/or Israel to Israel’s bombing of its consulate in Syria, then it might also do the same after Haniyeh’s assassination, which could help Iran “save face” while averting an escalation towards MAD.

5. …But There’s No Guarantee That Iran’s Allies Will “Stand Down”

Hamas and Hezbollah are Iran’s allies but operate independently of it despite their close ties. There’s accordingly no guarantee that they’ll “stand down” and not respond in their own way if Iran sends another salvo to Israel regardless of whether or not it’s choreographed. After all, Hamas’ political chief was just killed, while one of Hezbollah’s top commanders was assassinated by Israel in Beirut the day prior. This makes the MAD risk even less manageable since those two might not share Iran’s calculations.  

Haniyeh’s assassination is a watershed event in the latest Israeli-Hamas War, which is now a regional Israeli-Iranian proxy war, since it greatly spikes the risk of everything spiraling into MAD.

Iran’s response will be crucial in determining whether or not that happens, but so too will Hamas and Hezbollah’s.

They’ll either “stand down” as Iran responds regardless of whether or not it’s choreographed, participate in a joint response that remains below the MAD threshold, or decide to cross that red line on their own.  

END

Iran Says Hamas Chief’s Killing Had US Involvement, Blinken Denies Foreknowledge

WEDNESDAY, JUL 31, 2024 – 03:05 PM

Iran’s Foreign Ministry has issued a fiery statement saying that Washington must also bear responsibility for the Israeli attack which killed Hamas leader Ismail Haniyeh in Tehran in the overnight and early morning hours of Wednesday.

“This terrorist act is not only a flagrant violation of the principles and rules of international law and the United Nations Charter, but also a serious threat to regional and international peace and security,” the Iranian Foreign Ministry statement began.

“The Islamic Republic of Iran emphasizes the responsibility of the US government as a supporter and accomplice of the Zionist regime in the continuation of the occupation and genocide of the Palestinians, in committing this heinous act of terrorism,” it added.

The vague language of general ‘support’ to Israel leaves open the question of whether Tehran believes the US had an actual direct operational role in Haniyeh’s killing.

However, Iran’s ambassador to the United Nations issued a more specific denunciation in tandem: “This act could not have occurred without the authorization and intelligence support of the U.S.,” it said in a letter submitted to the UN. According to fresh details of the strike:

HAMAS SENIOR OFFICIAL AL-HAYYA SAYS A MISSILE HIT HAMAS LEADER’S ROOM AND ‘STRUCK HIM DIRECTLY‘

Hours before the accusation, US Secretary of State Anthony Blinken definitively stated Washington had no involvement in the attack. 

“This is something we were not aware of or involved in. It’s very hard to speculate,” Blinken told a regional outlet while on an official trip to Singapore. He had been asked about what he thinks will happen next in the region.

Iran will more than likely retaliate in a big way, possibly with another wave of drones and missiles on Israel, but this time less telegraphed (compared to the initial April 13 attack, largely intercepted by Israel’s anti-air defenses)…

@sonofnariman

This reference to Iran’s territorial integrity is the clearest sign yet that Iran is viewing its response in the same light as its response to Israel’s bombing of its consulate in Damascus in April. In other words, it’s going to be a big response. It has to be a big response.

Quote

Khamenei.ir

@khamenei_ir

·

10h

Following this bitter, tragic event which has taken place within the borders of the Islamic Republic, it is our duty to take revenge.

5:58 AM · Jul 31, 2024

·

32.4K Views

This reference to Iran's territorial integrity is the clearest sign yet that Iran is viewing its response in the same light as its response to Israel's bombing of its consulate in Damascus in April.

In other words, it's going to be a big response. It has to be a big response. https://t.co/UIQX4LxSxR

— Sam (@sonofnariman) July 31, 2024

The aforementioned UN letter has also called for the UN Security Council to hold an emergency meeting over the Hamas chief’s killing. But likely the US and its allies will see this as a legitimate killing of a designated terrorist responsible for the atrocities against Israel on Oct.7.

Meanwhile as Israel appears to be on an ‘assassination spree’, the body of Hezbollah’s military commander Fuad Shukr (and close advisor to Nasrallah) has been pulled from the rubble in Beirut.

Regional sources say the death toll from the Tuesday strike on a southern neighborhood of the Lebanese capital has risen to five with at least 70 injured. Among the casualties were women and children.

(JERUSALEM POST)

Israeli assault on Hezbollah in Lebanon to occur in three phases, Saudi reporter predicts

According to a Saudi news outlet Al-Hadath, the Israeli attack on Lebanon is planned to occur in three separate phases, targeting Hezbollah leaders and infrastructure.

By RIKKI ZAGELBAUMJULY 31, 2024 19:56Updated: JULY 31, 2024 20:11

https://trinitymedia.ai/player/trinity-player.php?language=en&pageURL=https%3A%2F%2Fwww.jpost.com%2Fisrael-hamas-war%2Farticle-812706&unitId=2900003088&userId=0984023a-6fcf-4b29-a5e6-1be85cfd6d0a&isLegacyBrowser=false&isPartitioningSupport=1&version=20240729_d9b1c4b4e389e89c58ca0ce87732d8e97203a069&useBunnyCDN=0&themeId=140&unitType=tts-player

The Israeli attack on Lebanon will be carried out in three distinct stages, a source from Saudi news outlet Al-Hadath reported on Tuesday.

Mahmoud Shukar,  a reporter at Al-Hadath, stated in an interview on the Saudi channel that the first wave of the Israeli attack will target the usual Hezbollah sites in southern Lebanon, “located deep within the area, around 20 to 30 km away.” 

He referred to these sites as “old military bases,” adding that they will be targeted with “different weapons compared to the past.” The second wave, according to Shukar, will target the coastal road, specifically the routes from Tyre to Sidon and up to the outskirts of Beirut, “where Hezbollah targets such as warehouses and infrastructure may be located,” he said. 

Lebanon-Syria border to be targetted

The third wave of attacks, Shukar continued, will target the area around the Lebanon-Syria border, specifically focusing on regions like Baalbek, a city about 67 km northeast of Beirut.

This phase will reportedly extend deeper into Lebanon to strike key Hezbollah targets, including military and logistical support systems, he said. 

Shukar made these predictions on the same day that the IDF conducted a precision strike on a Hezbollah target in Beirut, which killed Hezbollah’s most senior military commander and the head of its Strategic Unit, Fuad Shukr.

Shukr was the Hezbollah commander responsible for the rocket attack three days earlier, which killed twelve children and teenagers in the northern Golan town of Majdal Shams. 

“As for Hezbollah, there are no visible actions or movements on the ground,” Shukar concluded. “No one knows what Hezbollah is planning.” 

RUSSIA/UKRAINE

Russia Overnight Launched Single Biggest Drone Attack On Kiev Since War’s Start

BY TYLER DURDEN

WEDNESDAY, JUL 31, 2024 – 11:05 AM

While the world’s attention has been focused on the Middle East since Israel’s overnight killing of Hamas political chief Ismail Haniyeh at one of his residences in Tehran, resulting in the the potential for bigger regional war, Ukraine’s air force has said it repelled one of the largest Russian drone assaults of the conflict.

An overnight attack by Russia resulted in a reported 89 drones and one missile being intercepted over the Kyiv region. It marks perhaps the single biggest drone attack ever focused on the capital region, with Kyiv city administration head Serhiy Popko also describing “one of the most massive drone attacks on Ukraine during the entire war.”

Explosions were also reported over the other Ukrainian regions of Mykolayiv, Dnipro, Sumy and Poltava. Ukraine’s military identified many of the inbound projectiles in the capital region as Iran-made Shahed-131/136 strike drones. “Today Ukrainian air defense withstood and repelled a massive attack by enemy drones,” an air force statement said. 

There have been at least half a dozen prior drone attacks, albeit on a much smaller scale, on the area in the month of July. This latest sent over 11,000 people into the safety of metro stations during the assault in which drones came in multiple waves from “all possible directions,” city authorities said.

Apparently there were such large numbers of drones due to the presence of unarmed decoys, as Reuters details:

Military spy agency spokesman Andriy Yusov said in televised remarks that Russia had used a “significant” number of decoy drones that were not loaded with explosives to try to deplete Ukraine’s air defences and also identify their locations.

The major new assault appears retaliation and ‘punishment’ from Moscow for a Ukraine cross-border operation which happened Sunday, reportedly resulting in damage two Tu-22M3 bomber planes parked at an airfield in Murmansk, in Russia’s far north.

Ukraine’s government had hailed it as another successful long-range drone strike on a Russian base: “Destroying the enemy’s aircraft that is striking Ukraine is a priority. We can reach it everywhere,” announced Andriy Yermak, head of Ukraine’s presidential administration.

On the Olenya military airfield, in Murmansk, Russia, two Tu-22M3 strategic bombers were damaged A UAV flew across the entire length of Russia, 1800 KMs, did not trigger air defense & exploded on the airplanes – setting a record for flight distance for an attack.

11:39 PM · Jul 30, 2024

·

28K Views

🔥 On the Olenya military airfield, in Murmansk, Russia, two Tu-22M3 strategic bombers were damaged

A 🇺🇦 UAV flew across the entire length of Russia, 1800 KMs, did not trigger air defense & exploded on the airplanes – setting a record for flight distance for an attack. pic.twitter.com/yaRdzPkkUt

— Jason Jay Smart (@officejjsmart) July 31, 2024

But each time Ukraine celebrates a cross-border attack on Russia, Moscow retaliates with something bigger and typically more devastating. Sadly, it is the Ukrainian civilian population that often suffers with deaths, casualties, and the loss of further vital infrastructure.

President Zelensky over the past several months has been pleading with his international backers for more anti-air defense systems, including US Patriot batteries.

END

6.COVID ISSUES/VACCINE ISSUES//DRUG AND HEALTH ISSUES

WORLD EVENTS NOTEWORTHY

END

WORLD HEALTH ISSUES

BREAKING NEWS: Stage 4 Cancer patients are responding to Ivermectin & Fenbendazole

https://www.2ndsmartestguyintheworld.com/p/breaking-news-stage-4-cancer-patients

end

ROBERT H TO US

“Sudden And Unexpected” on X: “Pfizer Inc. has a serious problem. Former employees, including very, very senior executives, are coming forward to blow the whistle on the evil agenda of the Pharma giant. As these brave men and women explain it, their consciences simply won’t allow them to go on pretending that https://t.co/RBN4uTMH77” / X

https://x.com/toobaffled/status/1818270728422387736

MARK CRISPIN MILLER

Olympian Karli Kisha has thyroid cancer; Teddi Mellencamp has skin cancer (again); Saints’ Jake Haener has “rare skin cancer”; Braves’ Max Fried out with neuritis; Harvey Weinstein rushed to hospital

Joe Benigno (“Real Housewives of New Jersey”) has prostate cancer; UNC’s Tylee Craft retires from football (cancer); Nebraska state senator Jane Raybould treated for blood cancer

MARK CRISPIN MILLERJUL 31

READ IN APP

USA Field Hockey Olympian Karlie Kisha opens up about her life’s love story: husband, cancer surgery, and shipping off to Paris

July 11, 2024

Karlie Kisha is not one who enjoys talking about herself, but she’s getting used to it. She’s been doing interviews regularly for the last two months because she has a story that many people want to hear. Kisha, 28, is a member of the United States National Field Hockey team that will compete in the 2024 Paris Olympics, so that alone has been drawing attention to her. But before she was selected to be an Olympian, on May 6, Kisha was diagnosed with papillary thyroid cancer. She had surgery to remove the thyroid and lymph nodes on May 17, when the team was competing in the FIH Pro League in Antwerp, Belgium. Everything is fine now. She has gone through treatments and a body scan earlier this week that revealed no issues. The next checkup is in three months. Kisha, formerly Karlie Heistand, said that she has no family history of cancer. Papillary thyroid cancer is one of the most common thyroid cancers – and fortunately, responds extremely well to treatment. Karlie was up and running in a matter of weeks after the surgery.

Link

Diagnosed with skin cancer again, ‘Real Housewives’ star Teddi Mellencamp, 43, prepping for ‘hard conversations’ with her kids

July 26, 2024

“Real Housewives of Beverly Hills” star Teddi Mellencamp, 43, is continuing to raise awareness for skin cancer after revealing she’s been diagnosed with melanoma once again, something she admits she’ll need to remain positive about and inform her children. The reality TV star and daughter of music legend John Mellencamp, who has been battling melanoma since her initial diagnosis in 2022 shared her most recent diagnosis on Instagram, in a post featuring a selfie of herself. “I do in fact have another melanoma which means another surgery. Which means more hard conversations with my kids. Which means more of me trying to be positive but also feeling really sad.”

Link

---

If you like “News from Underground” (or hate it, but get something out of it), please read this post.

---

Margaret Josephs reveals husband Joe Benigno was ‘diagnosed with prostate cancer’

July 23, 2024

Margaret Josephs and her husband Joe Benigno were dealing with a lot while filming Season 14 of The Real Housewives of New Jersey and it’s not over yet. Margaret recently shared concerns about Joe’s health after a test showed irregularities that hinted at prostate cancer. Margaret confessed that her husband was “diagnosed with prostate cancer” and they’ve been dealing with that since the season wrapped. During a recent chat with Bravo, the 57-year-old talked about Joe’s medical diagnosis and treatment options. Margaret and her castmates gathered to share their feelings about Season 14, and that’s when she revealed Joe’s cancer diagnosis. “We had some shocking things happen on the show with his health,” said the RHONJ star. “He was diagnosed with prostate cancer, which we were going through the tests when we were filming.” During the emotional scene with Margaret and Joe, his doctor warned that there was a chance the 70-year-old could have cancer, but they were waiting on the results to confirm. Sadly, that was the case for Joe, but the good news is that it was caught at an early stage. “He actually does have prostate cancer and they’re just doing active surveillance right now, not treating it,” explained the Jersey Housewife.

Link

Harvey Weinstein rushed to NYC hospital in medical emergency

July 26, 2024

Disgraced Hollywood film mogul Harvey Weinstein [72] has been rushed to a New York City hospital to undergo treatment for a variety of ailments including coronavirus, fluid on his heart and lungs along with high blood pressure, his representatives confirmed Thursday. The other conditions he was to be treated for included diabetes, spinal stenosis, and assorted pneumonia symptoms, according to a statement released by Weinstein’s publicist that attributed the health information to Craig Rothfeld, Weinstein’s prison consultant.

Link

Jake Haener opens up about his rare skin cancer diagnosis

July 26, 2024

New Orleans Saints second-year quarterback Jake Haener [25] revealed that he has been diagnosed with a “rare form of skin cancer” during his media session on Day 3 of Saints Training Camp. “I actually have a rare form of skin cancer,” Haener responded to a reporter’s question about a round bandage near his right cheek. “So for my age, it’s kind of rare that that it pops up like that. So I’m trying to get that evaluated with our training staff.” He chose not to reveal the specific type of cancer, opting to wait and consult with the medical team.

Link

Max Fried sent to injured list with worrisome diagnosis

July 21, 2024

The Atlanta Braves dropped a bombshell this morning. Lefty Max Fried [30] has been placed on the injured list with what the team is calling “left forearm neuritis”, and that diagnosis is worrisome. This involves the nerves. “Neuritis” is, simply explained, inflammation of a nerve or nerves. There are several reasons this can happen, from a pinched or compressed nerve to some sort of infection or illness. We don’t know more and likely won’t about the cause of it unless we hear it from Fried itself during a media availability.

Link

Unvaccinated MLB players can’t travel to Canada to play Toronto Blue Jays

https://www.espn.com/mlb/story/_/id/33478123/unvaccinated-mlb-players-travel-canada-play-toronto-blue-jays

M.L.B. pushes incentives to encourage players to get vaccine

Continuing to battle cancer, UNC’s Tylee Craft retires from football

July 20, 2024

Tylee Craft is retiring from football, at least for now. A class of 2020 wide receiver from Sumter, SC, Craft was diagnosed with stage four large cell neuroendocrine carcinoma on March 14, 2022. It is a rare form of lung cancer and forced him to step away from competitively playing football. He has been through multiple rounds of chemotherapy and numerous forms of treatment ever since, all the while remaining on the football roster and being around the team as much as possible. A member of the 2020 recruiting class, Craft was a 2-star prospect at Rivals. Now at 6-foot-5, Craft committed to UNC on April 19, 2019.

No age reported.

Link

UNC-Chapel Hill vaccinates hundreds of students on first day of eligibility

https://www.wral.com/story/unc-chapel-hill-vaccinates-hundreds-of-students-on-first-day-of-eligibility/19604494/

UNC Football Offering Free Vaccines and Tickets to Fans

UNC Football Offering Free Vaccines and Tickets to Fans

END

MARK CRISPIN MILLER

DR PAUL ALEXANDER

SLAY NEWS

The latest reports from Slay NewsInfant Deaths Surge to Record High Since Vax RolloutOfficial data from the U.S. Centers for Disease Control and Prevention (CDC) has revealed that infant mortality rates have now soared to a record high.READ MOREInvestors Warned to ‘Get Money Out of Moderna’ before August 1Investors are being urged to quickly sell off any stock they have in pharmaceutical giant and Covid mRNA shot maker Moderna.READ MORETeam USA Olympian’s 26-Year-Old Family Member Dies Suddenly at Paris OlympicsThe 26-year-old sister-in-law of Team USA water polo star Maggie Steffen has tragically died suddenly after traveling to France for the Paris Olympics.READ MOREPotential Kamala Harris Running Mate Pick Josh Shapiro Engulfed in ScandalOne of the top names being floated as Kamala Harris’s choice for election running mate has been engulfed in a scandal following allegations from a fellow Democrat.READ MOREMark Meadows Requests Supreme Court Intervene in Fani Willis CasePresident Donald Trump’s former chief of staff Mark Meadows has asked the Supreme Court to intervene in Fulton County District Attorney Fani Willis’s case against him.READ MORETrump Gets Last Laugh as Democrat Lawfare Campaign Crumbles before ElectionDemocrats thought they could stop President Donald Trump with lawfare attacks that sought to derail his re-election campaign.READ MOREMost Voters Believe Kamala Harris Covered-Up Biden’s Health Issues, Poll ShowsThe majority of American voters say they believe Kamala Harris was part of a cover-up to keep Democrat President Joe Biden’s health issues hidden from the public, a new poll has revealed.READ MORENYT Fails to Attack JD Vance by Publishing His Anti-Trump Emails from 2016The New York Times has tried to attack President Donald Trump’s running mate Sen. J.D. Vance (R-OH) by publishing a hit piece against the VP candidate.READ MORETrump: Paris Olympics Opening Ceremony ‘Was a Disgrace’President Donald Trump has weighed in on the controversy surrounding the anti-Christian opening ceremony for the 2024 Olympic Games in Paris, France.READ MORETexts Show Officers Were Aware of Trump Shooter 90 Minutes before Assassination AttemptExplosive new text messages have emerged showing that law enforcement officers in Butler, Pennsylvania were aware of shooter Thomas Crooks 90 minutes before he opened fire during an assassination attempt against President Donald Trump.READ MOREDemocrat Strategist: Polling Still Favors Trump, Dooms HarrisA top Democrat strategist has warned that President Donald Trump is still leading Kamala Harris in the polls.READ MOREGretchen Whitmer Reveals She’s ‘Not Part of the Vetting’ for Harris’ Running MateMichigan’s Democrat Governor Gretchen Whitmer has revealed that she is not being considered as a running mate for Kamala Harris’s presidential campaign.READ MOREAl Gore Endorses ‘Climate Champion’ Kamala Harris for PresidentFormer Vice President Al Gore has endorsed Kamala Harris’s presidential bid, arguing that she’s “the kind of climate champion we need in the White House.”READ MORE

LATEST REPORTS FOR NEWS JUNKIES

MICHAEL EVERY/PHIL MAREY/OR OTHER EXECS //RABOBANK

From Hezbollah To “He’s Bullish”

WEDNESDAY, JUL 31, 2024 – 12:45 PM

By Michael Every of Rabobank

“He’s bullish”….  Hezbollah

The first market focus today is naturally the BOJ, and the second is the Fed. In both cases, the hope is that when the Governor/Fed Chair stop speaking, we will all be able to say, “he’s bullish”. Yet both central bankers will be talking as everyone in the Middle East, and those paying attention to it, will be saying, “Hezbollah.” It’s far from clear if that is bullish.

The market is pricing out the odds of a large –15bp– BOJ rate hike at this meeting, and this morning NHK is floating that a 10bp hike could come even though the consensus is no change. Given other central banks are leaning towards easing, or already are, one wonders if this is going to be the cycle peak anyway. In which case, one also has to wonder what the ceiling is on USD/JPY: it was back below 155 at time of writing. That will presumably depend on where the Fed stops easing.

As our Fed watcher Philip Marey makes clear in his FOMC preview, today’s meeting will open the door for the September cut he’s been calling for months, and one more in December. The Fed will also be able to squeeze in two more cuts in H1-2025. But then, based on poll tracking (not just one Bloomberg poll today) he assumes a Trump presidency and the introduction of tariffs; and the return of inflation. As such, the Fed will call a halt to cuts at a floor of 4.5%. Which, for keen market observers, is a lot higher than in Japan.

Meanwhile, Israel retaliated for the death of 12 children in Majdal Shams at the hands of Hezbollah by assassinating its number 2 and top military commander, Fuad Shukr, in Beirut – he had a $5m bounty on his head from the US for his past role in attacks on American forces. In military terms, this was a precise hit (with civilian casualties and injuries) rather than an assault on the Lebanese capital or a ground invasion. With it, Israel is attempting to show there’s a higher price for attacks on it to reassert deterrence, allowing tens of thousands of Israelis to return to border communities abandoned due to strikes from Lebanon. Israel also says it doesn’t seek war but is prepared for one.

The question now is how Hezbollah will respond to Beirut being hit, seen as a red line, and the killing of its number 2, a major blow. If it makes token retaliation, with no casualties, the region and markets can relax. Yet if it makes a large-scale move against Israel, or Jewish targets internationally, especially with further deaths, then Israel will move further up the escalation ladder, dragging Hezbollah behind it. Then there is less room to relax.

It’s important to recall that this is not about Israel vs. Hezbollah but rather Israel vs. Iran. At the inauguration ceremony for new president Pezeshkian, Iran just hosted senior leaders from the ‘Axis of Resistance’: Hezbollah, Hamas, Palestinian Islamic Jihad, and the Houthis, and we’ve already seen one round of direct –limited– Iran-Israel strikes. Were we to see Israel-Hezbollah escalation, the fat-tail risk would be that either Iran supports the latter, or Israel strikes the former again. In either case, the Middle East would be dragged towards the regional war we flagged immediately after 2023’s October 7 Hamas attack.

Even worse, Iran is a member of the ‘Axis of Upheaval’ (Russia-China-Iran-North Korea), which wants to heave the  aside on the world stage while upping their own global role. The fattest tail risk is therefore of something closer to Ukraine, where multiple parties/blocs get sucked into a conflict – only this time involving world energy centres, not grain centres.

Such an event would impact on economies, markets, and every central bank. Of course, if your job is to focus on the BOJ, Fed, or the BOE, there’s little or no room or time to write about things which fall well outside the realm of economics, vs. the balance of data that’s the usual driver of monetary policy. But that doesn’t stop the above being true.

Within the realm of economics, today’s Chinese PMI data were a non-event with manufacturing at 49.4 vs. 49.5 last month, and services at 50.2 vs. 50.3 expected.

Market-moving were Aussie retail sales at 0.5% m-o-m vs. 0.2% expected, and Q2 CPI weaker than seen at 1.0% q-o-q, in line with consensus, but 0.8% on a trimmed mean and a weighted median, both vs. 1.0% consensus. The reaction was a huge drop in Aussie bond yields across the curve, with a steepening tone. AUD tumbled in tandem.

The problem here is not anything Middle Eastern, which in far-away Australia means hummus with the barbie, but that these prints don’t imply inflation returns to 2%. Indeed, year-on-year CPI was 3.8%, the trimmed mean 3.9%, and the weighted median 4.1%. Goods inflation was 1.7% q-o-q after two previous negative prints, while services inflation was admittedly more positive at 0.7% vs. 1.5% prior. However, Australia still has a labour market showing bumper jobs growth, and a housing market not just on drugs, but so high up the drugs pyramid that it has smaller housing markets out on the streets doing the pushing and hustling for it while it sits next to the pool drinking cocktails. Which, substituting drugs for houses, is the Australian dream. Both of those trends are inflationary, especially in services, regardless of what today’s data show.

Regardless, the market reaction says the next RBA move is expected to be a cut, not a hike, which can’t be ignored. Our Australia/New Zealand strategist Ben Picton had a 25bp hike penciled in for August. The Reserve Bank admittedly had a high bar for further tightening given their ‘tolerance’ (a euphemism) for high house price inflation and intolerance for the slightest house price deflation: these CPI data are the get-out-of-jail-free card they needed to avoid putting a spike in housing spruikers. Ben now sees the RBA on hold as they wait and see. Unfortunately, however, if you don’t move when you should, at some point it comes back to hit you harder, in both monetary policy and geopolitics. Aussie bonds may rally, but that doesn’t mean “he’s bullish”.

Or Hezbollah.

7.OIL PRICES/GAS PRICES/OIL ISSUES

8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES//

Venezuela

UPDATE

Maduro Tells Brazil He’ll Soon Release Ballot Records To World; Opposition Official Arrested

TUESDAY, JUL 30, 2024 – 02:25 PM

Update(1425ET): The Brazilian administration of Luiz Inácio Lula da Silva had as of Monday said he wouldn’t congratulate Venezuela’s Maduro for now following Sunday’s election. “The Brazilian government welcomes the peaceful nature of yesterday’s [Sunday’s] elections in Venezuela and is following the counting process closely,” a statement had said. Maduro has responded to the leftist leader, saying he’ll release election data with full transparency to the world: 

Nicolas Maduro pledged to meet international demands to release full voting records from Venezuela’s election during a meeting with a top adviser to Brazil’s Luiz Inacio Lula da Silva, according to a Brazilian government official familiar with the matter.

Maduro met Celso Amorim, Lula’s chief foreign affairs adviser, at the Miraflores Palace in Caracas on Monday, amid mounting pressure from Brazil, Colombia and other nations to publicly verify the results of a Sunday election in which he was declared the winner and the opposition claimed fraud.

At this moment, no less than nine Latin American countries have yet to officially declare their recognition of Maduro’s third term. The White House too has said its is “reviewing” what data that it can, and that there are “signs” that the official results don’t “reflect the will of the people.” It has called on the government not to repress protesters.

Meanwhile, opposition party Voluntad Popular announced Tuesday on X that its national coordinator Freddy Superlano has been detained by Maduro’s security services. This is likely due to opposition candidate Edmundo Gonzalez still sticking by his declarations of victory and that the election was stolen.

The top military leadership and generals in Caracas have made clear in a televised address they are remaining loyal to the Maduro government…

Venezuela Defense Minister: "We reaffirm the most absolute loyalty and unconditional support to Nicolás Maduro Moros, Constitutional President of the Bolivarian Republic of Venezuela. Our Commander in Chief, legitimately reelected by the People's Power.." pic.twitter.com/vZFKb4KQtT

— Camila (@camilapress) July 30, 2024

YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS WEDNESDAY MORNING 6;30AM//OPENING AND CLOSING

EURO VS USA DOLLAR:  1.0837 UP 0.0022

USA/ YEN 150.46 down 2.154 NOW TARGETS INTEREST RATE AT 1.00% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN  STILL FALLS//END OF YEN CARRY TRADE BEGINS JULY 2024/Bank of Japan raises rates by .15% to 1.15

GBP/USA 1.2843 UP 0.0006

USA/CAN DOLLAR:  1.3833 DOWN .0015 (CDN DOLLAR UP 15 BASIS PTS)

 Last night Shanghai COMPOSITE CLOSED UP 59.44 PTS OR 2.06%

 Hang Seng CLOSED UP 341.69 PTS OR 2.01%

AUSTRALIA CLOSED UP 1.79%

 // EUROPEAN BOURSE:     MOSTLY GREEN EXCEPT SPAIN

Trading from Europe and ASIA

I) EUROPEAN BOURSES:  MOSTLY GREEN EXCEPT SPAIN

2/ CHINESE BOURSES / :Hang SENG CLOSED UP 341.69 PTS OR 2.01 %

/SHANGHAI CLOSED UP 59.45 PTS OR 2.06%

AUSTRALIA BOURSE CLOSED UP 1.79%

(Nikkei (Japan) CLOSED UP 575.87 PTS OR 1.49%

INDIA’S SENSEX  IN THE GREEN

Gold very early morning trading: 2420.85

silver:$28.634

USA dollar index early WEDNESDAY  morning: 103.85 DOWN 47 BASIS POINTS FROM TUESDAY’s CLOSE.

WEDNESDAY  MORNING NUMBERS ENDS

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

And now your closing  WEDNESDAY NUMBERS 1: 30 AM

Portuguese 10 year bond yield: 2.913% DOWN 5 in basis point(s) yield

JAPANESE BOND YIELD: +1.049% UP 4 AND 6/ 100   BASIS POINTS /JAPAN losing control of its yield curve/

SPANISH 10 YR BOND YIELD: 3.114 DOWN 3 in basis points yield

ITALIAN 10 YR BOND YIELD 3.654 DOWN 3 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (BUYING ITALIAN BONDS/SELLING GERMAN BUNDS)

GERMAN 10 YR BOND YIELD: 2.3060 DOWN 4 BASIS PTS

END

IMPORTANT CURRENCY CLOSES FOR  WEDNESDAY  

Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/1:00 PM

Euro/USA 1.0833 UP 0.0022 OR 22 basis points

USA/Japan: 150.17 DOWN 2.474 OR YEN IS UP 247 BASIS PTS

Great Britain 10 YR RATE 4.017 DOWN 3 BASIS POINTS //

Canadian dollar UP .0049 OR 49 BASIS pts  to 1.3798

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

The USA/Yuan,  CNY ON SHORE CLOSED UP AT 7.2164 (ON SHORE)  

THE USA/YUAN OFFSHORE:    (YUAN CLOSED (UP)…. (7.2211)

TURKISH LIRA:  33.13 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//ON DEATH WATCH

the 10 yr Japanese bond yield  at +1.049…

Your closing 10 yr US bond yield DOWN 7 in basis points from MONDAY at  4.098% //trading well ABOVE the resistance level of 2.27-2.32%)

 USA 30 yr bond yield  4.342 DOWN 8 in basis points  /12.00 PM

USA 2 YR BOND YIELD: 4.352 DOWN 4 BASIS PTS.

GOLD AT 11;30 AM 2424.75

SILVER AT 11;30: 28.78

Your  12:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates:  TUESDAY CLOSING TIME 12:00 PM//

London: CLOSED UP 93.57 PTS OR 1.13%

German Dax :  CLOSED UP 97.47 PTS OR 0.53%

Paris CAC CLOSED UP 56/55 PTS OR 0.76 %

Spain IBEX CLOSED DOWN 137.60 OR 1.22%

Italian MIB: CLOSED DOWN 144.16 PTS OR 0.43% PTS

WTI Oil price  77,20 12EST/

Brent Oil:  80.11 12:00 EST

USA /RUSSIAN ROUBLE ///   AT:  85.94 ROUBLE DOWN 0 AND  20/100      

GERMAN 10 YR BOND YIELD; +2.3060 DOWN 4 BASIS PTS.

UK 10 YR YIELD: 4.017 DOWN 3 BASIS POINTS

CDN 10 YEAR RATE: 3.248 DOWN 1 BASIS PTS.

CLOSING NUMBERS: 4 PM

Euro vs USA 1.0829 UP 0.0014   OR 14 BASIS POINTS

British Pound: 1.2860 UP 0.0023 OR 23 basis pts

BRITISH 10 YR GILT BOND YIELD:  3.971 DOWN 8 BASIS PTS//

JAPAN 10 YR YIELD: 1.047

USA dollar vs Japanese Yen: 150.13 DOWN 2.57 YEN UP 257 BASIS PTS//

USA dollar vs Canadian dollar: 1.3798 DOWN 0.0050//CDN dollar UP 50 BASIS PTS

West Texas intermediate oil: 78.10

Brent OIL:  81.20

USA 10 yr bond yield DOWN 7 BASIS pts to 4.078

USA 30 yr bond yield DOWN 5 BASIS PTS to 4.356%

USA 2 YR BOND: DOWN 5 PTS AT  4.315

CDN 10 YR RATE 3.211 DOWN 4 BASIS PTS

USA dollar index: 103.80 DOWN 52 BASIS POINTS

USA DOLLAR VS TURKISH LIRA: 33.10 GETTING QUITE CLOSE TO BLOWING UP/

USA DOLLAR VS RUSSIA//// ROUBLE:  85.00 UP 0  AND  74/100 roubles

GOLD  2,438.75 3:30 PM

SILVER: 28.89 3;30 PM

DOW JONES INDUSTRIAL AVERAGE: UP 99.46 PTS OR 0.24%

NASDAQ up 566.15 PTS OR 3,01 %

VOLATILITY INDEX: 16.25 DOWN 1,44 PTS OR 8.14%

GLD: $226,50 UP 4,00 OR 1.80%

SLV/ $26.37 UP .56 OR 2,17%

end

USA AFFAIRS

TODAY’S TRADING IN GRAPH FORM

Bonds & Gold Soar In July Amid ‘DotCom-Style’ Collapse In Crowded-Trades

WEDNESDAY, JUL 31, 2024 – 04:00 PM

Bonds and bullion outperformed in July with the dollar down and oil getting hammered…

Source: Bloomberg

And while the broad S&P 500 managed very modest gains in July – there was a massive divergence between Small Caps (+12% in July) and Nasdaq (-1.5% in July)…

Source: Bloomberg

Crowded consensus trades suffered in July. e,g, A.I…

Source: Bloomberg

Thanks to a massive $440BN surge today (the biggest day since Feb), the market cap of Magnificent 7 stocks ended the month down only 2.5% (though admittedly down 10% from the highs)…

Source: Bloomberg

MSFT bounced back hard from its post-earnings plunge…

…and NVDA exploded (after touching $100)…

…as did ‘most shorted’ stocks…

Source: Bloomberg

For context, NVDA added a stunning $330BN in market cap today – its largest single-day gain ever…

Source: Bloomberg

The market’s initial reaction to the FOMC statement was muted to say the least as Powell reiterated that “We have made no decisions about future meetings and that includes the September meeting.”

But then Powell dropped the dovish hammer:

“I can imagine a scenario in which there would be everywhere from zero cuts to several cuts.”

…and stocks elevated, only to give it back after he stopped speaking…

Powell’s comments on the job market and inflation during the presser also sent yields and the dollar lower…

• Job Mkt – Fed ready to move if easing in Labour mkt goes beyond ‘gradual’ and would not want to see ‘further material cooling’. This will likely heighten the focus on Friday’s print.
• Inflation – very benign take from Powell re recent progress defined as ‘broader disinflation’ /high quality progress (including housing and non-housing services).

The kneejerk reaction (higher) in yields was reversed to the lows of the day…

Source: Bloomberg

…as rate-cut expectations initially dropped, then surged…

Source: Bloomberg

Treasury yields plunged in July with the short-end down 45bps, dramatically outperforming the long-end…

Source: Bloomberg

The yield curve steepened dramatically in July, dis-inverting at 2s30s…

Source: Bloomberg

Gold soared to its highest monthly closing level ever, rebounding the last few days…

Source: Bloomberg

While crude had an ugly month overall, today saw a sizable bounce as MidEast tensions re-escalated…

Source: Bloomberg

It was a mixed month for crypto with Bitcoin managing gains (+4.5%) but Ethereum dumped (-4.5%), despite the launch of the ETH ETFs…

Source: Bloomberg

Bitcoin touched $70,000 intraday at its highs this month, but has fallen back since (testing $65k today)…

Source: Bloomberg

Finally, July saw the biggest Nasdaq underperformance of Russell 2000 since the peak of the DotCom bubble’s bursting…

Source: Bloomberg

Probably nothing, right?

And, according to the prediction markets, Trump and Kamala are all tied up…

Source: Bloomberg

The market doesn’t feel like its 50-50.

MORNING TRADING/

AFTERNOON TRADING///

II USA DATA

the usually bullish ADP report shows weakest employment since January. Wage inflation slows down

(ADP)

ADP Employment Report Weakest Since January As Wage-Inflation Slows

WEDNESDAY, JUL 31, 2024 – 08:23 AM

ADP’s Employment report for July was disappointing, showing the addition of just 122k jobs (well below the 150k expected and down from the 155k added in June).

Source: Bloomberg

That 122k addition is the weakest since January and the trend in job growth is not your friend with more sectors showing job losses…

“With wage growth abating, the labor market is playing along with the Federal Reserve’s effort to slow inflation,” said Nela Richardson, chief economist, ADP.

“If inflation goes back up, it won’t be because of labor.”

Finally, it is worth noting that ADP has been serially below BLS data for the last 12 months…

Source: Bloomberg

One wonders which is ‘real’?7,27727

end

US Pending Home Sales Rebound (Modestly) From Record Lows In June

WEDNESDAY, JUL 31, 2024 – 10:05 AM

After two months of ugly declines, US pending home sales bounced in June (up 4.8% MoM). However, that jump was not enough to juice YoY changes which saw sales decline 7.8% YoY…

Source: Bloomberg

June’s rebound pulls sales off record low levels going back to 2001…

Source: Bloomberg

“The rise in housing inventory is beginning to lead to more contract signings,” and more supply should hit the market in the coming months, NAR Chief Economist Lawrence Yun said in a statement.

“Multiple offers are less intense, and buyers are in a more favorable position.”

The pending-sales figures tend to be a leading indicator of sales of previously owned homes, because houses typically go under contract a month or two before they’re sold.

end

Chicago business-activity index weakens further in JulyFits with softening trend in manufacturing in July

MarketWatch

July 31, 2024 at 10:02 a.m. ET

The Chicago Business Barometer, also known as the Chicago PMI, fell 2.1 points to 45.3 in July, according to a release from MNI on Wednesday.

Economists polled by the Wall Street Journal forecast a 45.5 reading from the 47.4 reading in June.

The index has been in contraction territory since last November but has recovered somewhat from a post-pandemic low of 35.4 in May.

The index is one of the last of the regional manufacturing indices before the national ISM data for June is released Thursday. Other regional Fed manufacturing surveys for July have pointed to a weaker ISM index in June, economists said.

The national index has been below 50 for three straight months. The WSJ survey shows economists expect the ISM factory index will remain in contraction territory, inching up to 48.9 in July from 48.5 in the prior month.

end

III  USA ECONOMIC COMMENTARIES

Democrats Vs. The Man Who Could Get To The Bottom Of The Trump Shooting

TUESDAY, JUL 30, 2024 – 10:05 PM

Authored by Julie Kelly via RealClearInvestigations,

After the evasive House testimony of now-former Secret Service Director Kimberly Cheatle and FBI Director Christopher Wray’s shortlived suggestion that Donald Trump may not have been hit by a bullet, one man alone may help allay Republican fears that the Biden administration will not conduct a forthright investigation into the attempted assassination of Trump last month: Joseph Cuffari.

The Trump-appointed inspector general for the Department of Homeland Security has already opened two investigations into the U.S. Secret Service, which is under the purview of the DHS, related to the agency’s handling of the July 13 shooting.

But some Republicans are concerned because, they say, Cuffari has been stonewalled by Homeland Security Secretary Alejandro Mayorkas on other internal examinations – including one that might have revealed Secret Service lapses that might have prevented the attempt on Trump’s life. 

Specifically, congressional sources tell RCI that Cuffari’s report, “USSS Preparation for and Response to the Events of January 6, 2021,” has been on Mayorkas’ desk since at least April.

The report, according to Politico, will “cast light on a series of embarrassing security lapses for the agency.” And given some comparisons between Jan. 6 and July 13, the report might shed light on systemic issues that impacted both events.

For example, unanswered questions remain as to why the Secret Service allowed Trump to take the stage at The Ellipse outside the White House around noon on Jan. 6 amid reports of individuals with weapons in the vicinity – a question many Americans have about the July 13 assassination attempt. Law enforcement and spectators noted the presence of a suspicious individual, later identified as the gunman, Thomas Matthew Crooks, at least a half hour before Trump took the stage in Butler, Pennsylvania.

In addition, no one has explained how the Secret Service failed to notice an alleged pipe bomb found outside the Democrat National Committee DC office on Jan. 6 – while then Vice President-elect Harris was inside the building. Previous reporting by RCI shows multiple law enforcement officers, including one with a bomb-sniffing dog, walking past the bench where the device was found. 

Rep. Barry Loudermilk, chairman of a House subcommittee tasked with a separate investigation into Jan. 6 as well as the now-defunct J6 committee, recently accused Mayorkas of intentionally holding the release of the report. The Georgia Republican told Mayorkas in a letter that “the failure to provide an in-depth review of the department’s security planning and operational failures related to January 6 not only raises concerns about the department’s botched planning for former president Trump’s rally in Pennsylvania on July 13, 2024, but it is quite possible that such reports could have prevented the security breakdown that resulted in the near assassination of a former president and presidential candidate.”

Top Democrats have long sought to remove Cuffari – a former investigator for the Air Force and Department of Justice whom Trump appointed in 2019 in 2019 – from office. The coordinated effort began when the IG notified Congress that a trove of Secret Service texts from January 5 and 6, 2021 had been deleted in late January 2021 under the Biden administration. The purge occurred weeks after every federal agency received a directive from Congress to preserve all evidence related to January 6. 

Cuffari said messages belonging to at least 24 Secret Service officials including then director James Murray and Cheatle, who was an assistant director of the agency on January 6, were gone. So, too, were the texts of then acting Homeland Security Secretary Chad Wolf and acting deputy secretary Ken Cuccinelli, both Trump appointees.

His office subsequently opened a criminal investigation into the matter.

“The USSS erased those text messages after OIG [Office of Inspector General] requested records of electronic communications from the USSS, as part of our evaluation of events at the Capitol on January 6,” the inspector general wrote in a July 2022 letter to chairmen of both the Senate and House Homeland Security committees, including Rep. Bennie Thompson, who also chaired the Jan. 6 committee at the same time. 

Cuffari further flagged the DHS’s lack of cooperation with his inquiry, something he had already pointed out in an earlier report to the committees. “DHS personnel have repeatedly told OIG inspectors that they were not permitted to provide records directly to OIG and that such records had to first undergo review by DHS attorneys,” Cuffari continued in the letter.

Not true, responded Secret Service spokesman Anthony Guglielmi. He claimed the texts had been deleted when cell phones were reset to factory settings as part of a device replacement program. “The insinuation that the Secret Service maliciously deleted text messages following a request is false.” (Guglielmi’s truthfulness was brought into question recently when he claimed it was “absolutely false” that the Secret Service rejected the Trump campaign’s multiple requests for additional security prior to the Pennsylvania rally. The Washington Post later confirmed that top Secret Service officials “repeatedly denied” requests for more manpower and equipment to protect the former president at large events.)

And despite initially insisting the texts were not lost, Guglielmi shortly thereafter said the missing Jan. 6-related messages were not recoverable. Cuffari did acquire the cell phones of two dozen Secret Service agents on duty that day, which did not have texts from that day but could have other pertinent information.

But rather than demand that the DHS use its extensive investigative tools to retrieve the texts, Thompson instead turned his fire on Cuffari. Thompson suggested Cuffari’s alleged delay in notifying the committee about the purged texts represented a cover-up and “cost investigators precious time to capture relevant evidence.” Cuffari had, in fact, notified the Homeland Security committee of both the Senate and House, of which Thompson was chairman, at least twice that DHS officials were not cooperating in his J6 probe.

“The Department repeatedly suggested that OIG might not have a right of access to the records sought, but during the months-long period in which access was delayed the Department did not cite any legal authority – that would have justified withholding the information,” Cuffari disclosed in a September 2021 report to Congress.

Despite Cuffari’s warnings related to stonewalling by DHS brass, Thompson accused Cuffari of withholding news of the deleted messages. In a July 2022 letter, just two weeks after Cuffari disclosed the missing texts, Thompson asked him to step aside from the J6 inquiry. Calls for Cuffari’s dismissal have also been driven by the nonprofit “watchdog” group, the Project on Government Oversight. The vice chair of POGO’s board is Debra Katz, a lawyer for Brett Kavanagh’s accuser, Christine Blasey Ford, during his tawdry Supreme Court nomination hearings.   

Critics say Thompson’s demand for Cuffari’s recusal appeared to contradict his stated mission to find the truth about Jan. 6. For example, former White House aide Cassidy Hutchinson, a star witness for the committee, provided a shocking account about how Trump allegedly assaulted one of the Secret Service agents on his detail that afternoon. Wouldn’t Thompson and the other committee members want records to prove her claims, which are now in dispute by several individuals, including the driver she said Trump tried to attack? Why would Thompson want to get rid of the watchdog attempting to locate messages critical to filling an important missing piece of the Jan. 6 puzzle? 

In fact, Thompson told Rep. Thomas Massie (R-Ky) in February his committee “could have had a better, more thorough report had we had access to all those records.” Thompson further said that the deletions not only violated the Federal Records Act but may have also amounted to obstruction of justice since he had issued a subpoena, the only one his committee sought from an executive office, seeking the records.

Talk but No Action

But neither his committee nor a Democrat-controlled Congress did anything about it. Unlike the committee’s criminal referral to the Department of Justice against Trump for obstructing an official proceeding, Thompson did not pursue criminal charges against any DHS official responsible for erasing the text records.

But Thompson did continue his attacks on Cuffari aided by his House colleagues and DHS IG employees, who wrote a letter accusing Cuffari of “continued mismanagement.” “IG Cuffari has made it clear that he wishes to remain in his position, even in the face of prolonged, deserved criticism in the media, from Congress, from other oversight entities and from his own staff. A true leader would recognize the effect of his actions on his workforce and understand the right thing to do would be to step aside,” anonymous staffers wrote in a September 2022 letter to Joe Biden asking him to fire Cuffari.

The Council of the Inspectors General on Integrity and Efficiency, or CIGIE, which oversees federal inspector generals, also went after Cuffari by opening a flood of inquiries into the DHS IG’s office. In response, Cuffari filed a lawsuit seeking relief  from “an unjust, Kafkaesque system produced by an unconstitutionally structured entity and abetted by a complete absence of independent oversight, accountability and lawful due process.”  A federal judge dismissed his effort to stop the investigation, ruling that he had not suffered any harm. 

CIGIE is mired in its own scandals; in May, several Republican House members sent a letter to a top CIGIE official demanding answers about the “politicization” of the organization. During a House hearing on July 24, committee members accused CIGIE chairman Mark Greenblatt of a lack of transparency and the “subjective” nature of CIGIE’s work.

House Democrats, including Thompson, continue to seek Cuffari’s resignation more recently for deleting text messages off his government device. Cuffari told Congress he did not consider the texts applicable under the Federal Records Act.

Intriguingly, as Cuffari begins his probe of the attempt on Trump’s life, his Jan. 6 report may shed light on an alleged threat to Vice President Harris.  

More than three-and-a-half years later, investigators still have not arrested anyone for planting pipe bombs outside the headquarters of both the Democratic National Committee and the Republican National Committee on the evening of Jan. 5. The FBI’s investigation reportedly remains open but apparently went cold.

For reasons still unknown, Harris left Capitol Hill around 11:15 a.m. on Jan. 6 following a briefing for the Senate Intelligence Committee. Although an official schedule indicated she planned to go home, she instead arrived at DNC headquarters along with a Secret Service detail at 11:25 a.m.

Video captured by a security camera outside the building showed a bomb-sniffing dog conducting a vehicle search at 9:44 a.m., roughly two hours before Harris’ arrival. The canine did not detect the explosive device sitting just a few feet away near an outdoor bench.

Neither did officers from Capitol Police and D.C. Metropolitan Police, who intermittently arrived at the building throughout the morning and into the early afternoon. Harris’ Secret Service detail did not appear to conduct any meaningful search of the premises before or during her visit.

And when a plainclothes Capitol Police officer discovered the pipe bomb at 1:07 p.m., no officer appeared overly concerned that a device the FBI later said was viable and deadly was within distance of the incoming vice president.

She was evacuated about 10 minutes later.

How did the Secret Service miss the device in plain view? Was anyone fired for failing to properly sweep the area and endangering the life of their protectee? Were new protocols put in place to avoid repeating such a frightening scenario in the future?

Cuffari’s report presumably will finally answer those questions because agency officials have not.

Not only are the FBI and Secret Service tight-lipped about the incident, but Harris herself has yet to discuss it publicly. 

Harris has not explained why she, a sitting U.S. senator at the time, left the Capitol 90 minutes before the beginning of the joint session of Congress to certify her groundbreaking election. She appears to have been the only senator not in attendance as the proceedings commenced. Why did she plan to miss such a historic event? How did she feel when she was told of the alleged bomb?

It would be nearly impossible for the national news media to continue to ignore her ties to the pipe bomb story if Cuffari addressed it in his investigation. 

“Any delay or obstruction by Mayorkas is unacceptable,” Loudermilk said in an email, “especially now that the DHS IG is investigating the serious USSS security failures at the Trump rally in Butler PA.”

END 

FOMC….

Hawkish FOMC ‘Still Waiting For Greater Confidence’ On Disinflation

WEDNESDAY, JUL 31, 2024 – 02:00 PM

Since the last FOMC meeting on June 12, gold has outperformed (while the dollar and crude oil have lagged). Stocks and bonds are also both higher…

Source: Bloomberg

US macro ‘hard’ data has trended weaker overall since the last FOMC (albeit with a blip)…

Source: Bloomberg

…and the ‘bad news’ macro data has prompted ‘good news’ dovish shifts in rate-cut expectations which are dramatically higher since the last FOMC (pricing more than the Fed’s two cuts this year)…

Source: Bloomberg

Expectations for today’s FOMC are ‘nothingburger’-y with just a 2% chance of a cut implied by the market (from 100% certain at the start of the year).

Source: Bloomberg

But all eyes and ears will be on the statement (which is expected to reflect ‘more confidence’ in the disinflationary path) and on Powell’s soothingly dovish words.

So, what did The Fed say?

Key headlines (via Bloomberg)

• Federal Open Market Committee votes unanimously to leave benchmark rate unchanged in target range of 5.25%-5.5%, a more than two-decade high, for the eighth straight meeting
• Statement tweaks language to say “the committee is attentive to the risks to both sides of its dual mandate”; had previously said officials were “highly attentive to inflation risks”
• Statement repeats prior language saying the FOMC doesn’t expect to cut rates “until it has gained greater confidence that inflation is moving sustainably toward 2%”
• Fed also tweaks language to say price pressures remain “somewhat” elevated, and acknowledge “some further progress” toward inflation goal, from “modest further progress” in previous statement
• Officials also adjust their assessment of the labor market, saying job gains “have moderated” and the jobless rate “has moved up but remains low”
• Statement notes that risks to achieving employment and inflation goals “continue to move into better balance”
• Decision is unanimous for 17th straight meeting

Which has a hawkish bias to it compared to the market’s dovishness.

Read the full red-line below:

“Absolutely Stunning”: CRE Analyst Lists Latest Office Tower & Mall Valuation Collapses 

Zerohedge.com/markets/absolutely-stunning-cre-analyst-lists-latest-office-tower-mall-valuation-collapses

TUESDAY, JUL 30, 2024 – 08:00 PM

The commercial real estate downturn is still underway, posing significant risks for investors across financial markets. CRE-linked equities, corporate credit, structured credit, and private markets all feel the impacts of major unwinds as property prices plunge. 

While headwinds from high interest rates may diminish in the coming quarters, with rate traders pricing in the possibility of the first 25bps cut as early as the mid-September FOMC meeting, the critical question is whether these projected rate cuts will be adequate to cushion the landing. 

Office tower valuations remain sloped in a downward trend, plummeting in many cases, as vacancy rates soar as remote work trends keep white-collar workers out of the office and at home. These imploding values remain a massive threat to regional banks, with the CRE crisis likely to persist through 2025. 

X user Triple Net Investor offers a sobering reality of the CRE space. He closely follows the space and noted dozens of recent valuation declines for malls, towers, and multi-family properties. 

Here are the examples of why the CRE storm is not over:

One of Maryland’s largest malls, called White Marsh Mall, located in a northeast suburb of Baltimore County, had a stunning valuation plunge… 

One of the largest malls in Baltimore has plunged a shocking $320M in value since 2013 A recent appraisal valued the White Marsh Mall at $80M, down from $300M in 2013 A receiver was appointed to take control of the 1.2M sq ft mall earlier this yr This is one of many Brookfield-owned properties that’s been in financial distress w/ massive pain expected to continue… Source: Bisnow For the latest updates on the real estate meltdown just like this, make sure to follow

@TripleNetInvest

10:27 AM · Jul 29, 2024

·

46.9K Views

One of the largest malls in Baltimore has plunged a shocking $320M in value since 2013

A recent appraisal valued the White Marsh Mall at $80M, down from $300M in 2013

A receiver was appointed to take control of the 1.2M sq ft mall earlier this yr

This is one of many… pic.twitter.com/ajriEkumPo

— Triple Net Investor (@TripleNetInvest) July 29, 2024

“This is a commercial real estate apocalypse,” Triple Net Investor said. 

Wow, this is absolutely crazy… Brookfield owned Gas Company Tower in Downtown LA has plummeted over $400M in value The skyscraper was recently valued at $214.5M It was appraised at $632M just 3 years ago This is a commercial real estate apocalypse Source: Commercial Observer

12:55 PM · Jul 26, 2024

·

71.7K Views

https://x.com/TripleNetInvest/status/1816879977419407569

He said, “This is absolutely insane.” 

This is absolutely insane… A Chinese investor is acquiring a skyscraper in Downtown Los Angeles for $120m… Or a stunning ~$170M LESS than the debt owed Brookfield recently defaulted on a $319M loan tied to the property – at the time of default ~$290M was outstanding on the loan Wells Fargo and a syndicate of lenders provided the financing and forced Brookfield to sell after the default Since last Feb, Brookfield has defaulted on $1.1B in debt tied to its office buildings in downtown LA The Chinese buyer is paying cash for the 1M sq ft, 52 story tower at 777 South Figueroa St in the Financial District For the latest updates on the commercial real estate just like this, make sure to follow

@TripleNetInvest

3:28 PM · Jul 25, 2024

·

197.5K Views

This is absolutely insane…

A Chinese investor is acquiring a skyscraper in Downtown Los Angeles for $120m…

Or a stunning ~$170M LESS than the debt owed

Brookfield recently defaulted on a $319M loan tied to the property – at the time of default ~$290M was outstanding on the… pic.twitter.com/dDxORkTLgi

— Triple Net Investor (@TripleNetInvest) July 25, 2024

This trend is very concerning… 518 apartment units faces foreclosure in Dallas, Texas – Tides at Whispering Hill: 314 units – Tides at Lawler East: 204 units The total loan stood at $35M or ~$67K a unit First office buildings fell off a cliff… Now apartment/multi-family buildings in the hottest mkts are feeling the pain What comes next for commercial real estate?

2:31 PM · Jul 20, 2024

·

149.8K Views

He said, “Blackstone has filed to foreclose on the 33-story McGraw-Hill skyscraper in the Hell’s Kitchen neighborhood of Manhattan.” 

GnS Economics analysts Mate Suto and Tuomas Malinen recently warned:

“Basically, almost every bank in the US is holding some type of CRE loan on their balance sheets. Therefore, it is no surprise that this is an area warranting close observation, especially because the risks posed by CRE exposure spread quite unevenly between large and small banks.”

Fed Powell has a rolling crisis on his hands. And the goal is to save the fireworks for after the election. 

IIIB USA COMMENTARIES RE ISRAEL/HAMAS WAR/ and  PERVASIVE ANTISEMITISM/WOKISM

iiiC USA COVID //VACCINE ISSUES/IMPORTANT MEDICAL ISSUES

end

END

FREIGHT ISSUES/USA/BOEING

END

VICTOR DAVIS HANSON OR NEWT GINGRICH/TUCKER CARLSON

END

NEWT GINGRICH

SWAMP NEWS

“Hundreds” Of Cars Stolen And Robbed Each Year From Seattle Airport “Park-N-Fly” Lots

TUESDAY, JUL 30, 2024 – 08:50 PM

‘Hundreds’ of cars are being stolen from Seattle-Tacoma International Airport every year, investigators from KING NBC 5 have found. 

Car thieves frequently target hotel and motel lots offering “park-n-fly” or “stay-n-fly” packages. Data reviewed by KING NBC 5 shows that some of the most well-known lodging names have the highest crime rates, leaving customers liable.

According to public records, the airport Marriott tops the list for crimes at hotel and “park-n-fly” lots. Data from the King County Sheriff’s Office shows 94 car thefts and prowls in 2023, including 27 stolen vehicles. In 2022, there were 74 reported incidents, according to KING NBC 5. 

Carol Olson of Snohomish County commented: “Something needs to be done.”

KING NBC 5 reported that her insurance covered $15,000 in repairs after her truck was stolen and trashed at the Seattle Airport Marriott on South 176th Street in December. She returned from a trip to Disneyland with her grandkids to find her parking spot empty.

Another woman Piper Logg told hotel security her truck was gone and wasn’t happy with the response: “They all made it sound like this is an everyday, normal thing and that nobody was surprised that it happens all the time. It seems like it’s something that happens all the time and they’re choosing to do nothing.”

Logg said the lot’s cameras weren’t recording, and thieves evaded the pay gates. A SeaTac police officer explained that no charge applies if exiting within 15-20 minutes. Thieves often tailgate behind an accomplice or a paying customer, and one report mentioned a thief ramming the gate to escape.

“It’s even more disconcerting because Marriott is a well-known company. You actually think it is going to be safer than the smaller hotels,” another woman said. “It just leaves a bad taste in your mouth.”

Can’t we just go back to the days when things made sense and cars were only being stolen from their owners in designated, marked autonomous zones in the center of the city?

END

New Secret Service Director Announces Changes In Wake Of Trump Assassination Attempt

WEDNESDAY, JUL 31, 2024 – 06:30 AM

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The Secret Service is making changes in the wake of the assassination attempt against former President Donald Trump, the agency’s new acting director announced on July 30.

Acting Director Ronald Rowe Jr. said that he traveled to the site of the July 13 rally in Butler, Pennsylvania, where the former president was shot by a man who fired from the roof of the nearby AGR building.

“What I saw made me ashamed,” Mr. Rowe told two U.S. Senate committees on Capitol Hill. “As a career law enforcement officer, and a twenty-five-year veteran with the Secret Service, I cannot defend why that roof was not better secured.”

He added, “To prevent similar lapses from occurring in the future, I directed our personnel to ensure every event site security plan is thoroughly vetted by multiple experienced supervisors before it is implemented.”

Mr. Rowe said he believed agents had plenty of time to plan for the rally and called what happened a “failure on multiple levels.”

In addition to former President Trump, three others were struck by bullets. One died.

Mr. Rowe assumed the director position after Kimberly Cheatle, the presidential appointee who was serving as director, stepped down a week after the former president was hit with a bullet.

Ms. Cheatle, in remarks before Congress before she resigned, said the assassination attempt represented the Secret Service’s “most significant operational failure in decades.”

Lawmakers from both parties said the Secret Service should have secured the rooftop of the nearby building, or made sure other law enforcement officers secured the rooftop.

Snipers spotted Mr. Crooks 1 hour and 45 minutes before shots were fired, according to texts disclosed this week, but no officers detained the suspicious person, according to officials.

After Mr. Crooks fired the shots, he was taken out by a Secret Service sniper, officials have said.

Homeland Security Secretary Alejandro Mayorkas appointed Mr. Rowe to serve as acting director. Mr. Rowe has been part of the Secret Service for 24 years. He was previously the agency’s deputy director.

“I appreciate his willingness to lead the Secret Service at this incredibly challenging moment, as the agency works to get to the bottom of exactly what happened on July 13 and cooperate with ongoing investigations and Congressional oversight,” Mr. Mayorkas said.

Mr. Rowe said that the Secret Service has implemented enhanced protective measures such as expanding the use of drones at sites since the rally shooting “to ensure the people and places we protect are safe.” He said the agency has strengthened protection for all individuals it protects, is conducting threat assessments for all the people, and has started protecting six new people, including Sen. J.D. Vance (R-Ohio), who was recently tapped to join former President Trump’s ticket, and independent presidential candidate Robert F. Kennedy Jr., to whom officials had previously denied protection.

Mr. Rowe also said that officials are working to make sure the agency’s protection of the Democratic National Convention is strong and effective, following the protection of the Republican National Convention.

“I am immensely proud of the selfless dedication of our employees to the mission,“ he said. ”Every day, across the globe, the men and women [of the Secret Service] answer the call to protect our nation’s leaders and the standard is no fail for a reason.”

The acting director said that, depending on the results of an internal probe, some employees may be disciplined. That could include termination, he said.

The Secret Service is conducting an investigation. The U.S. House of Representatives is also investigating, as is the U.S. Department of Homeland Security’s inspector general.

Samantha Flom contributed to this report.

KING REPORT

The King Report July 31, 2024 Issue 7295

Independent View of the News

Here are all the Microsoft applications affected by the global outage, including Starbucks and Xbox Live (Windows 365, Azure cloud) – Microsoft hit with second global outage in less than two weeks https://www.dailymail.co.uk/sciencetech/article-13689331/microsoft-outage-starbucks-app-xbox-360.html   Nvidia plunged as much as 8.11% as a new selling wave battered AI and semiconductor stocks.   ESUs opened moderately higher on Monday night and proceeded to decline until they hit 5482.00 near 22:23 ET.  ESUs then steadily rallied until 4 ET.  They then traded sideways with a slight upward bias.  Eventually, ESUs hit a daily high of 5524.50 at 9:40 ET.  The dump then appeared.  ESUs sank until they hit a daily low of 5439.50 at 13:02 ET.  The afternoon rally, and buying ahead of MSFT’s results, took ESUs to 5477.50 at 14:20 ET.  After a 16.00 decline by 15:02 ET, ESUs rallied to 5489.00 at 15:50 ET, and then eased modestly lower into the NYSE close.   After the NYSE close, Microsoft reported EPS of 2.95, 2.94 exp.; revenue of $64.7B, $64.52B exp.; Cloud Revenue of $28.52B, $28.72B consensus.  MSFT, which closed 422.92 (-3.81 or -0.89%), plunged to a low of 391.00.  The Street expected much better results that the consensus numbers.   AMD reported .69 EPS, .68 exp.; and $5.8B Rev., $5.72B exp.  AMD soared 8.11% on the tiny ‘beat.’  This action induced a bounce in NVDA and other AI stocks that sank on MSFT in after-hour trading.   BBG: Intel to Cut Thousands of Jobs to Reduce Costs, Fund Rebound (INTC reports on Thursday)   The Conference Board’s Consumer Confidence for July is 100.3; 99.5 was consensus.  But June was revised to 97.8 from 100.4, the 8th revision in the past 9 months!  The Present Situation component fell to 133.6 from 135.3, its lowest reading since April 2021.  Expectations jumped to 78.2 from 72.8. https://www.conference-board.org/topics/consumer-confidence   Catastrophic JOLTS: Private Sector Job Openings Plunge To 6 Year Low As Both Hiring And Quits Crater – June saw another bizarre jump in government job openings, surging to a near record 1.094 million, driven by a 118K spike in State and Local job openings…while private sector job openings plunged to a level seen back in late 2018, government job openings are just shy of a record high!… https://www.zerohedge.com/markets/catastrophic-jolts-private-sector-job-openings-plunge-offset-bizarre-surge-government   Is the Treasury conspiring to manipulate markets and the economy? A new paper sparks debate on Wall Street…“By adjusting the maturity profile of its debt issuance, Treasury is dynamically managing financial conditions and through them, the economy, usurping core functions of the Federal Reserve,” co-authors Stephen Miran and Nouriel Roubini wrote…     Over the past nine months, the Treasury’s excess issuance of bills has had an impact similar to roughly $800 billion in quantitative easing… This is equivalent to lopping 25 basis points off the 10-year yield, or a full percentage point from the federal-funds rate… neutralizing some of the Fed’s efforts to tighten monetary policy…, which might help explain why financial conditions remain relatively benign even with interest rates at their highest levels in more than 20 years… Sen. Bill Hagerty, a Tennessee Republican, who questioned Fed Chairman Jerome Powell about the Treasury’s reliance on bills during a recent Senate Banking Committee hearing… “Politics has no place in Treasury debt issuance. Sadly, Secretary [Janet] Yellen’s Treasury has manipulated long-term interest rates by dramatically shifting the maturities of U.S. debt, all in an effort to boost the economy before November,” he said. “This back-door quantitative easing undermines the public’s trust in our nation’s debt, and poses significant risks to our government’s ability to respond to future crises.”… https://www.marketwatch.com/story/is-the-treasury-conspiring-to-manipulate-markets-and-the-economy-a-new-paper-sparks-debate-on-wall-street-0883625c   Positive aspects of previous session An afternoon ESU and equity rally materialized. The DJIA rallied 203.40; The DJTA increased 118.08. USUs were +16/32 at 15:20 ET   Negative aspects of previous session Nvidia got hammered; AI and Fang stocks declined in concert; Nasdaq fell 1.28% Stocks declined sharply until the afternoon rally began. Energy stocks rallied sharply; S&P Energy Sector +1.54%.   Ambiguous aspects of previous session What is spooking equities?  All short-term biases were on the plus side this week.   First Hour/Last Hour Action [S&P 500 Index]: 1st Hour from NYSE Open: Down; Last Hour: Up   Pivot Point for S&P 500 Index [above/below indicates daily trend to traders]: Previous session S&P 500 Index High/Low: 5478.73; 5401.70   Norah O’Donnell to exit as anchor of ‘CBS Evening News’ after 2024 election as ratings plummet https://trib.al/S3MGrMW   @ABC: Israel has launched a strike on Beirut, targeting a senior Hezbollah commander as tensions along Israel’s northern border escalate. The IDF said the commander is responsible for Saturday’s strike that killed kids playing in the Golan Heights.   @JerryDunleavy: IDF confirms Israel killed Fuad Shukr. Beyond being responsible for a host of Hezbollah attacks vs. Israel, including the murder of children in Majdal Shams, this Iran-backed terrorist was key to the 1983 bombing of the U.S. Marine barracks in Beirut which killed 241 U.S. troops.   Today is Fed Day.  The Fed is expected to NOT cut rates.  The Street expects/hopes that the FOMC Communique will clearly indicate that it will cut rates in September.  Bulls also expect that Powell will be as dovish as he was after the last FOMC Meeting.  If Jerome is NOT as dovish as he was after the June 12 FOMC soiree, traders will dump stuff.   With today being July 31, the usual suspects want to game July performance.  When FOMC Meetings appear just before month or quarter end, performance gaming is often delayed until after the communiqué is released.  Therefore, if there are no negative surprises by the FOMC or Powell, robust performance gaming is likely to appear during the final hour of NYSE trading.   Expected economic data: ADP Employment Change 149k; Q2 Employment Cost Index 1.0%; July Chicago PMI 44.5; June Pending Home Sales 1.3% m/m; Fed Communique 14:00 ET, no change in rates expected, Powell Presser 14:30 ET   Expected earnings: DD .85, HUM 5.85, BA -1.61, HES 2.55, MA 3.52, MO 1.35, ALL .29, MAA 2.20, AIG 1.33, META 4.75, AFL 1.60, MET 2.11   @RNCResearch: REPORTER: When are you gonna go out and campaign for Kamala? BIDEN (confused): “Well I did today!” (He gave remarks in Texas on the Supreme Court — not campaigning for Kamala)  https://x.com/RNCResearch/status/1818347165757866420     QUESTION: Why did Biden tell reporters he was out campaigning for Kamala yesterday when he was actually in Texas at completely unrelated events? KARINE JEAN-PIERRE: Uh… https://x.com/RNCResearch/status/1818347618855985166   @bonchieredstate: Harris can’t let Biden continue to appear in public like this.  Every brain reboot, every insane thing he says is a reminder she’s an accomplice.   Media Shills Have Received Their New Script: “Conservatives Are Weird” Media platforms are blatantly parroting the same scripted talking points in a way that would make Joseph Goebbels blush.  As he once stated: “Think of the press as a great keyboard on which the government can play.”  The new narrative that every progressive shill is reciting on nearly every major news platform?  Donald Trump and JD Vance are ‘just plain weird’, and conservatives are all weird by extension…  https://www.zerohedge.com/political/media-shills-have-received-their-new-script-conservatives-are-weird   @IAPolls2022: 2024 GE: Harvard/Harris (with leans) Trump: 48%, Harris: 45%      @zerohedge: Now imagine if the poll wasn’t ridiculously skewed and oversampled to Democrats: Republican respondents: 654, Democrat respondents: 883 https://x.com/zerohedge/status/1818281627765952705   @BreannaMorello: They’re creating fake support around Kamala Harris to make it appear like Americans support her.  Their goal?  To validate stealing another election.   Key House investigator vows to pierce coverup on Secret Service’s Jan. 6 failures with a subpoena The Homeland Security Department’s inspector general has completed a report on Secret Service missteps during the Capitol crisis 3 ½ years ago but is refusing to release it. https://justthenews.com/government/congress/key-house-investigator-vows-pierce-coverup-secret-services-jan-6-failures   GOP Sen. @HawleyMO: The Secret Service director to me today: a lot of people made a lot of mistakes but we won’t tell you who and we won’t fire anybody   @susancrabtree: EXCLUSIVE: A Secret Service counter sniper sent an email Monday night to the entire Uniformed Division (not agents) saying he will not stop speaking out until “5 high-level supervisors (1 down) are either fired or removed from their current positions.” The counter sniper also said the agency “SHOULD expect another assassination attempt” before November and complained that he is no longer proud to be a USSS counter sniper after leadership failed the officers at the Trump rally in Butler on 7/13. “This agency NEEDS to change,” the sniper wrote in the email. “If not now, WHEN? “The NEXT assassination in 30 days?”     “Sadly we have fallen short for YEARS,” the counter sniper lamented. “We just look good doing it. I have conveyed these thoughts to not only supervisors (to include the current Captain of CS, but those responsible for training us (SOTS/CS). Only to be brushed off as those with less experience somehow knew more than me.”     “The team I was once proud to be a part of, is something I have to somehow hide as I move into my next career,” the counter sniper continued. “Who wants to hire a USSS CS guy who failed? That’s the public perception I’m not faced with. The USSS CS team is a stain I will never be able to cleanse.”     He concluded with these two lines: “The motto of the USSS…CYA. And every supervisor is doing it right now.” The agency quickly deleted the email, a knowledgeable source told RealClearPolitics. Full email with name redacted below: https://x.com/susancrabtree/status/1818291679469965647   @DrewHLive: Acting Secret Service Director Ronald Rowe completely loses it and starts to play the victim as @HawleyMO presses him for accountability for the Secret Service “failure” to protect President Trump on J/13.  He claims the Secret Service are being “unfairly persecuted.” https://x.com/DrewHLive/status/1818319482449961048   FBI Deputy Dir. Paul Abbate admitted that there was NO specific threat from Iran to assassinate Trump at the time he was shot.  https://x.com/susancrabtree/status/1818316021415194835   Trump Insinuates FBI Director Wray May Have Been Involved in Assassination Attempt President Trump himself retruthed a post questioning FBI Director Chris Wray’s knowledge of the assassination plot. The post reads:  “What did you know and when did you know about it?  If you want to know who ordered the assassination of Donald Trump…” https://theleadingreport.com/attempted-assassination-of-president-trump-butler-rally/   Trump speculates ‘maybe’ he was shot due to claims that he’s a ‘threat to Democracy’ https://nypost.com/2024/07/30/us-news/trump-speculates-maybe-he-was-shot-due-to-dems-saying-hes-a-threat-to-democracy/   @bennyjohnson: Kringe Jean-Pierre deflects to January 6th when a reporter asks her if Biden’s harmful rhetoric of calling President Trump a ‘threat to democracy’ contributed to the assassination attempt against him…  https://x.com/bennyjohnson/status/1818354411795833288   @BasedTorba: BREAKING: The FBI is now claiming that the Trump shooter Thomas Matthew Crooks had an unspecified “social media account” in 2019/2020 (when he was 14/15 years old) that posted “anti-immigrant and anti-semitic” content.      This is not consistent with Gab’s understanding of the shooter’s motives based on an Emergency Disclosure Request (“EDR”) we received from the FBI last week for the Gab account “EpicMicrowave” which, based on the content of that EDR, the FBI appeared to think belonged to Thomas Crooks.      Many, particularly regime media reporters, have doubted Gab’s claims that this request existed. Normally we don’t confirm the existence or content of law enforcement communications. In this instance we had to make an exception due to the overwhelming public interest in disclosure and transparency.      As a courtesy to law enforcement, we are not going to post the entire request. This is the first page of that request.   The story is this: the account for which data was requested was, UNEQUIVOCALLY, pro-Biden and in particular pro-Biden’s immigration policy.      To the best of Gab’s knowledge, as of 2021, Crooks was a pro-lockdown, pro-immigration, left-wing Joe Biden supporter.   https://x.com/BasedTorba/status/1818311922560774188   @elonmusk: It sure looks like the FBI leadership engaged in perjury …   @seanmdav: The FBI (Dir. Wray) lied about Trump being shot, and then it lied about the politics of the assassin. Why do you think the FBI is so invested in people not knowing the truth about the plot to assassinate Trump?   @JamesOKeefeIII: DNC Manager: ‘I Don’t Think Kamala Harris Would Win;’ Admits to Making Empty Promises to Donors – “I don’t think Kamala Harris would win this year,” reveals Joyce DeCerce Compliance Manager for the Democratic National Committee and Kamala Harris’ Campaign. DeCerce adds, “She doesn’t have any accomplishments to speak of,” suggesting that Harris’s lack of popularity stems from her underachievement while in office. Regarding Harris’s approval amongst voters, the DNC Compliance manager states, “She’s weirdly unpopular.”    DeCerce describes his role within the DNC as “an accounting function,” explaining, “It’s kind of like where accounting and legal meet.”  DeCerce admits that the DNC’s engagement with donors is little more than a façade. He explains, “You just put on a performance for them, a little show, right?” implying that the DNC merely tells donors what they want to hear in order to receive donations. He further claims that the DNC’s approach is to fuel donors’ fantasies with empty promises, emphasizing, “They want their fantasy to be, you know, fed.” When @OKeefeMedia reached out to Kristin Hetherington, the CFO of the DNC, for comment, she hung up the phone in frustration after questioned if the DNC tells donors “what they want to hear,” and if they play to donor’s “fantasies.”… https://x.com/JamesOKeefeIII/status/1818377737599410433

GREG HUNTER

SEE YOU ON WEDNESDAY